HomeMy WebLinkAbout2150 . . . _ . . ~ r`-~{ ' ' ~ . . . . . . _
A. Debtor's lailure to pay ~rhen due any indebtedxiass
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secured by this 8ecurity Aqreament, either principal, interest or
other charge• thereunder.
B. Delault by Debtor in the punctual perlonaance ot any ~
o! the obliqations, covenanta, terms or proviaions contained or
ref~rred to in this Security Aqreement or in any note hereby secured. .
C. Any ~rarranty, representation or statement contained in
this aqree~aent or made or furniahed to Secured Party by or on behal!
of Debtor in connection ~rith thia aqreement or to induce Secured Party
to extend credit to Debtor provee to hava been lalee in any material
respect When n~de or ~urniehed. ~
D. Debtor's dissolution or other termination o! existence,
merqer or consolidation with another, insolvency, forleiture or riqht ~
to do buaineas, bueinesa lailure, appointment of a receiver of any .
part ot the property of, the callinq of any meetinq of or the assiqn-
ment !or the benefit of creditors by, or the com~aencement of any pro-
ceedinga under bankruptcy or ineolvency lawa by or against Debtor or
any guarantor or surety tor Debtor.
E. At any time, in the opinion of Secured Party, the financial
~ conditton of Debtor becomea impaired or the oollateral beco~nes insuffi-
cient in character or value. _
~ F. Any guarantor, surety or endorser tor Debtor, defaults in .
~ any obliqation or liability to Secured Party.
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G. Losa, thelt, aubatantial damnge, destruction, sale or
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~ encumbrance to or o! any of the collateral, or the making of any levy,
aeizure or attac2naent thereo! or thereon.
, 6. Upon the occurence o! any such event of default or at any
!
~ time therealter, Secured Party may, at its option, declare all obliga-
~
~ tions secured hereby or any of them (notWithstandinq any provisions
t
s
= thereof), immediately due and payable without demand or notice of any
;
€ k3nd and the same thereupon shall immediately hecome and be due and
; payable without de~nand or notice.(but With such adjustments, it~any,
with reapect to interest or other charges as may be provided for in,=
the promieaory note or other writinq evidencing such liability), and
~ Secured Party shall have and may euerciae from time to time any and all
~ righta and remediea o! a Secured Party under the Uniform Coannerc
i
~ g~Rr~~ p~u~Zi49 -5-
McDONALD, KENNEY ! RUiSAKIf -
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WiTt 200, CIT12[NS f[OUAL ~YILOINO, 1~00 iOBT}I FfD[I~AL NIOM1NAr, rOM rItRCE. R0111DA 7~Sf0- ~ j~
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