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lE tbis aa~eemeoc is secwritr for • loan to b~ used ~o pay a Pan oc all of the purchase price of che collacetal; co use che ~
Q~oceeds of d~e baa oo psy tAe putchrse price, 6iiaa fees aad inaur~ncc ptea?iua~s. Zi~e Secured Parcy bo~re•er. may pay
tbepro ceeds directly oo tbe seller of t6e collacetal.
To immed'atety aotify ~e Securcd P~rcr in .nid~a of any chaaae ia or discoaciauance of Debcor'spl~ce or places of
busiaess andJor rtsidence. ~ .
'IU~c if the coll~ter~l bas been ~cached co or is to be •tcac6ed to aal escate. a descripciao of t6e ~eal est~ce and c6e
aeme ~ad sddtesa of the teco~d o~rner is sec (ort6 ia the acbedule hereia; if c6e said coll~cersl is sttached to real escate
ptior to the petlectioa of the security intecest sranted hetebY. Debtot ~rill on demaad of tLe Secated Patry futais6 t6e l~tter
Mitb a disclaimec or disclaimers. sidned by aU persoas hariaa ~n iatetest ia the real estste.otanyiatetestint6ecollatets!
wrbicb is prior to Secured Pwrty's iatereat,
77~E PARTIFS FURTHER AGREB
Notes. if aay. e:ecuted in coaaectioa ~+ith this s teemmc are se ~
a . paraee iaaccumeacs and may be aeaod~ted by Secuced
Paety withaut releasin~ Dabo~r. the coll~teral, or any ausr~ntor or co~msker. Deboor censencs co any e:ieasion of time of
paymeac. If thece be more thw ooe Deboor. 6u~caatoc or co~ndcer of t6is aareemeot ot of aotes secvred Aereby, tAe obliaa-
tion o[ all ahall be primary, joint and serenl.
iairet of o«cquieaceace ia ~ny deEwlt by the Debtor.or failure of the Secured Party co iaaist u~+oo strict perfoem~nce
by the De~oot of any watrantiea or aarecmeats in this secutity agreemeat~ shall not rnasutuce s vstvet of aay subseynmt ~
or ocber defwlc oc Eailu~e.
Notices oo eicl~e~ parcy shall be in writina aad shall be delireced peraoaally or by m~il addcesaed to ehe pa~ty at the
~ddress hereia set [oceD ot othet~?ise design~ced ie wcicin6. (
The Uai[uem Commercial Cade shdl go~em the riabes. duties aad remedies of the parties ~ad any pA~iaioas hercia ~
declued in~alid uader aay law shill aot iovalidate any other pro~ision oc this aareemenc.
17ee follow~iag sAall conscitute e default by Deboor:
Failare to p~y ~he priacipal oe any iascallmenc of priacipal or of iateresc oa che iadebtedness or any ooces w6en due.
. Failute by Deb~or to comply w+ich or perform aor Peovisioa oE e6is ageemesia
False ot wsleadina represeatations ot ~ratcanaes made oc i~ea by Debcoc ia eooaecaoo ~rich this aarermmt.
Subjectiou of t6e collsceral oo levy oE e:ecucion or ocber ju~iciat proceas.
Commencaaenc of any iosol~eacy proceedina by oc agai~se the Debo~r or of any auuaaoor oE or sucety for t6e Debcor's
obli atioas.
~eatb of t6e Deboor or of any Guumtorof or surery for the Debcoc's obli$adons.
Any r~ducdon ia che value of che collatenl or any ace Qf che Debcor wluch impecils i6e pmspece of full pedoimm~e or
satishction of d~e Debtoc's obliaatioas he~ein.
Upoa aay defaulc of the Debtor ead ac the opcion of the Secuced Patep~ the ob4gacions secured by chis abreemmc s6aU
immedi~celp beeome due wd payable in full wit6out notice or demand and che Secured Puty s6all bave all t6e ri~ts, ceor
edies and pri~ileaes wit6 respect co repossession, reteation and sale of the collacaal and disposicion of c6e ~ioceeds as
are ~sccorded oo aSecvred Parcy by tLeapplicable seccioas of the Unifoem Commeceial Code respeccing "peEault', io effect
as of c~e date of thia Securic~ Aaceement.
Upon aoy dehuit. c6e Secured Paay's rcasonable attomey's fees aad the legal and oc6er ezpenses for pursuioa.
searc6iag foc, recei~ia~, calcia$~ lceepiag, scorin , ad~ertisina~ aad seUia~ rLe coltacere) shall be rhu6eable oo c6e Debtor.
• 11ie Debtor sball reaaain liable for aay de~cieacy resulaaa Eoom a sale of the oollaieral and s6s11 pay aoy such dr
ficiency forthwich oo demand.
If che Debcor s6a11 defanlc in ~he perfom~ance of any of d~e p,u.isiona of chis aaceemmc on ~6e~ebcor's parc co be r
focmed, Secured Party may perfom~ same br the Debcor's accounc and any monies ezpended in so doing shaU be c6ugea~ble
with intecest to t6e beboor and added oo the [ndebtedness secured berebq.
ln oonjuacdon with, addicioq eo or substitucion for chose ri6bts, Secared Party, at 6is discredon, may: (1) entet upon
Debcor's premises peaceably by Secured Paccy'a oan meaas or ~rit6 le~al pcocess aad cake possessionof d~e coltaceral, or
render it unasable, or dispose of t6e collatera) on the Debcor's•premises aod che Debtor aarees aot co resiac or intedere;
(2) requir~ Debcor co assemble ihe collscersl aad malcc ic s~ailable oo the Secured Party ac a place t~o be design:ted by cLe
Secured Party, ressooably conveaieat to boch panies (Debtor agcees that the Secured Party's address as set fort6 abo~e is
a place reasonably conveaient foc suc6 assembliaa);(3) un(ess the collatetal ia perishable or thteatrns oo decline speedily
in vatue or is of a type cuscoa~arily sold on a cecognized maeket, Secured Patcy will.aive Debcor reasonable aodce of che
time aad place of anypublic sale thereof or of the timt aftet wWcb anq private aale ot aay other intended disposidon tLerr
of is co be made. The requirements o[ reasonable ootice will be met if suc6 notice is mriled, poscaae ptepsid. to the ad-
. dcess of the Debtoc show+n abo~e, at least three daYs beEore t6e time of sale or disposition.
Secured Party may assi~n this aareemeat and tf assigned dte aasi~ee shatl be eacided, upoa notifyin6 the Deboor. co
perforn?aace of all of Debcor s obligauoas and ageements 6ereunder aad t6e assi~oee shall 6e eacitled to all of the ria6ts
and rea~edies of theSecurcd Party hereunder.Debcoc wrill assert no claims oc defenses Deboor may 6ave aaaiast cLe Secuced
Patqr ~aiau the assigaee.
Ibe Secuted Paay ia htreby autborized co f:le a Fiaaaci4a Statement.
~ r~~.~.~~ ~rr~~~r~ ~ - _
s 19a.~.903.-.s$ . . _ West Palm Beach .......September_«26 ~ ~7ti.... '
fOR YAUJE RfCElYEO rh. undvrwMd aonrses ro pay ~o M~e ordrr d ~
....G~NERAL ._MOTORS._ ACCEPTANCE CORPORATION ~
a~~~ ~ ~r ..Q~~_..H~ndred._.Thousand _ Nine Hu,~?dred .
Three. & .._58/I~~,s {s _~.00., 9.Q 3. 58.. ~
+oq~rher wiM aderest fhereon ho~ d+M. ~ ~ .~e ~............_....._f __..p.? .annum._ ....~a ~+~.a,,. ~ ~~a~
~ vaYable.---.......4I?4...~.~~Y.1.a.?b~4Ke . ]~t,kt . ...-BtaGY.- ;
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exh rear: bolh principal and inlwesl beinp DaYabk in iaw(ul w~oner of the Unifed Stalet o? i1s eVuivaieN, af P• Q. .BQX ~ . ~
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W~st Pa1.m...Beach,._. F1af. . 334~Q.2..__...__._----.--.~d w~~pr~ ~ ~o ~ c~Y~ r~ a~~ ~a ~n~ ~ ~o«x~a ~o-r.~: :fi
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Principal sum of $100,903.58 on demand. :
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Escb wale? ~nd eodorsw s~reralhr waires d~~w~d. P~o1~ and nolic~e d n~h~rifY. ~-P+Y~ a O~W~f and aM rpw~wnls iNCessary b Uold Wch ol ~
Iha~ Gabh as ma~crs and s.
fach a~alcw ar~,N~~~~~apr~ts, ioinNr and sewraMy, lo pay aN cos~s d coY~ct~on, incUrdiig s rWwnsbb anornhr's (~e in w~ elN piecip~l o(
~ •w `
tMs eWe or any j~ bk~Minc~l or any intK~st Ihereon is na1 psid ~t tM respWir~ n~ahrify IMr+~ol, o? in cst~ i beco~s n~absar~? b O~o~d tM
securilp hw~oF, aYA~~!'' M~ug~f Qr, nW.
This ~ erte0.7~res1'Qa~iMs styll bsar int~ al tM rals d..._.....a..Q.~...._.-W? anl. Per aiw~r~ irom ~at~rity wMil p~id.
This no~~is ~i a. ..~w ::..~......mortpaq~ d ewn dafe herwvilh snd 'u ~o b~ canshwd ard ~ntaosd ~ccwdwg to ?~e Istivs d N~e StaM d Horid+:
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~ i~~~°~'v~" ~OK~~PACE ~~~a r~~.. ~u ~a.s ~ ~?.e ~e ~g ~e ~ r«~..~~
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