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(~i) Loss, theft. damage, destructio», sale or encum- ~
brance to or of any of the collateral, or the making
cf any levy, seizure or attachment thereof or theron;
Death, ciissolution, termination of existence, {
insolvency, business failure, appointment of a receiver ~
for any part of the property of, assignment for the ~
benefit of creditors by, or the commencement of any
proceeding under any bankruptcy or insolvency laws by
or against, Debtor or any guarantor or surety of Debtor.
Upon such default and at any time thereafter, Secured Party
may declare-all indebtedness secured hereby immediately due and payable
and shall have the remedies of a secured party under the Uniform Com-
mercial Code. Secured Party may require Debtor to assemble the
collateral and make it available to Secured Party at a place to be
designated by Secured Party which is reasonably convenient to both
parties. Secured Party will give Debtor reasonable notice of the time
and place of any public sale thereof or of the time after which atiy
private sale or any other intended disposition thereof is to be made.
The requirements of reasonable notice shall be---met if such notice is
mailed. postage prepaid, to the address of Debtor shown at the
conclusion of this agreement at least five (5) days before the time
of sale or disposition. Secured Party, in addition and in its sole
discretion, may retain an attorney to collect Debtor's delinquent and
unpaid account and any expenses previously incurred in attempting to
collect said account and collecting and selling the collateral. Debtor
E shall pay a sum equal to thirty percent (30~) of the outstanding unpaid
amount of Debtor's account and previously incurred costs for the collec-
lion thereof as and for a reasonable attorney s fee. Debtor shall, in
F addition, pay any and all legal expenses and costs incurred in _the ~
collection of Debtor;'s unpaid and delinquent account and previously in- €
curred expenses. Said amounts of attorney's fees, legal expenses and
costs shall be added to the unpaid balance of Debtor's account and
shall be due and owing from Debtor to Secured Party. ,
11. Should a lawsuit be brought to enforce the terms hereof or for any
dispute arising out of this transaction, then the issues in any such
action shall he determined pursuant to the laws of the Commonwealth of
Pennsylvania, the courts of which shall have jurisdiction over the
parties hereto and to decide the issues arising out of any transaction
s created hereunder.
12. No waiver by Secured Party of any default shall operate as a waiver
~ of any other default or of the same default on a future occasion.
13. All rights of Secured Party hereunder shall inure to the benefit
of its successors or assigns; and all obligations of Debtor shall bind
Debtor's heirs, executors, administrators, successors and assigns.
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14. If there be more than one Debtor, their obliga~ions hereunder shall
be joint and several.
B~~K 315 PEE 13T3
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