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If obis agreemenria security for a loan to be used to pay • part oc all of the purchase price of the collateral; to use cbe
pproceeds of the ban mpa y the purchase price, filing fees an Insurance premitms. T1?e Secured Parry however, may PaY
cbe toceeds dltectly oo, ehs seller of the collateral.
1'o immeajaceiy,t+~oaiy rya Secured Party io wridaa of stir cbaage Ia or discoatiausace of Debtor's place or places of
business ao or test crate.
• That If the collateral has been attached to or is to be attached co coal estate, a desaiptioo of cbe teal estate and the }
name and address of cbe record owner is see forth is the schedule herein; if the said collateral is attached to real estate
print to tbepeNectloa of cbe aecyttity interest scanted hecebY, Debtor wiU oo demand of the Secured Psny fumIsb the !attar }
with a disclarmer os dIaclaime;s, signed by all perwas barrag as interest is the teal estate,ofanyintecescinchecollacenl Y
which is prior to Secured Patty •iaterest. f
- THE PARTITS FURTHF.?Z AGREE
Notes, I( arty, a:crated is connection wItb this agreemtstt, ate separate insetumeaes mod may be aegoriated by Secured
Party without releasing Debtor, the collateral. of any guarantor or oo~aaker. Debtor coaseats to any eztensioa of time of
payment. If there be amore than one Debtor, guarantor of eo~maker of dtis agreement of of notes. secured hereby. rite obliga-
tion of all shall be peimaq, joint rod several. i
~ai~ec of oracquiescence is any default by the Deboor,or [ailure of the Secured Parry to insist apoa strict performance `
by the Debtor of say warranties or ageeements in dtis security agreement, shall not constitute a warren of say subsequent
of ocher defwlt or failure.
Notices to either pparty shall be in writing sad shall be delivered personally of by mail addressed to the patty at the -
sddress herein sec fork of otherwise designated io wdtiag.
The Unitom Coatmetcigl Code shall govern rite ria6ta, duties sad remedies of the parties sad any provisions herein
declared invalid uadec say law shall not iavalidace say ocher provision or this agreemeac.
The following shall coascicute a default by Debtor:
Failure co ay rite principal or say insallmeat of principal or of interest oo cbe iadebtedaess of any antes vrhea due.
Failure by Debtor oo comply with oc perform stir provision of this agreement.
False or mraleading cepreseatacions or wacraaaes made or iren by Debtor is ootmectioa with this agreement.
Subjection of the collateral oo levy of ezecution or other ju~cial process.
Commencement of soy insolvency proceeding by oc agaiase the Debtor or of say guaraaoot of or surety lot rite Debtor's
obli arsons.
~eat6 of the Debooc of of soy Guaraotorof or surety for rite Debtor's obli¢adoaa.
Aay reduction is the value of the collateral or say act of rite Debtor wbtc6 imperils the prospect of full pctformaace of
sacisfaccioa of rite Debtor's obligations bereia.
Upaa say default of the Debtor and at the option of the Secured Parts, rite obligations secured by this agreement shall
scam ately becoa?e due sad payable in [all without oodce or demand and the Secured Parry shsll6are all the rights, rem-
edies sad privile66es with respect to repossession, retmcioa sad sale of rite collateral std disposition of the ~noceeds as
are accorded m aSecured Patty by the applicable sections of rite Unifoaa Commercial Code tespecttng "Default'. is effect
as of the dart of dtis Secunty Agceemeat.
Uppoon say defaults the 5eeured Patty's reasonable attorney's fees sad the legal and other ezpeases for ~ urauiag.
searchia for. receiving, cakia , Iteeping. storia~~, +ldretcisias. sad selling the collateral shall be chargeable to the Debtor.
The ~ebtor ahali remain able for any deficiency resulting from a sale of the c+ollatecal sad shall pay say such de- .
ficiency forrbwich on demand.
If rite Debtor shall default in rite performance of any of the peorisions of this agreement oa rite Debtor's part to be per
fotmtd, Secured Party may petfomt same for the Debtor's account and say monies ezpended in so doing shall be chargeable
with iaterest to the Debtor acrd added to the Iadebtrdaess secured hereby.
Io coojuactioa with. addition to or substitution for those fights, Secured Patty, ac his discretion, may: (1) enter upon
Debtor's premises peaceably by Secured Patty's oven mesas or vetch legal process and cake possession of the collateral, or
render it unusable, or dispose of the collateral oa the Debtor's premrses sad the Debror agrees tint co resist or interfere;
(2) require Debrot to assemble rite collateral and make ic.available to cbe Secured Patty at a place to be designated by the
Secured Party, reasonably coarenieot to both patties (Debtor agrees that the Secured Parry's address as set forth above is
a place reasonably coaveaienc for such asaembliog);(3) unless the collateral is peasbable or dtreateos to decline speedily
is value or is of a type customarily sold on a recognized matitet, Secured Patty will give Debtor reasonable notice of the
time std place of anypnblic sale thereof or of the come after whicbaay private sale or say outer iateaded disposition there-
of is co be made. The requirements of reasonable notice will be met if such notice is mailed, postage prepaid, to the ad•
dress of the Debtor shown aboret at !tsar three days before the time of sale or disposition.
Secured Party may assi~o thrs agreement sad tf assigned the assignee shall be eadtled, upon notifying the Debtor, to
performance of all of Debtor s obligauoas sod agreements 6eteuader sad the assignee shall be entitled co all of the rights
std remedies of tbeSecured Patty 6rreunder.Debror will assert ao claims or defenses Debtor may bare against the Secured
Party against the assignee.
The Secured Patty is hereby authorized co file a Financing Stacemmt.
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