HomeMy WebLinkAbout1260~ ~~,
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U.S. Small Business Administration • •
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SH:I:URITY AGRM:F:NH:VT
Wi113scu E. Strou~i, III i t~ucy M. St1~O~xl .
1. ~/~i/a I~+TLC-t~'Y PRL*?'1'L-vG ~hereina(te~ c~IleJ "nebtor"1.
3222 Cenb~c Scuth U3f''fi~~, BLdg 3214, aary E
P1~t P~~rc~a~ F1~1,~ 33450 , tor value re~eived.
(Address) ~
hereby grants to S[P_1 AAi~ik ~ Sl~. 7~[1C~ ~'l~!'7~i'Y _ .
lN ~me)
P~ n_ )~cnc ~t~ Ftn~t ir~rrxs~i~lnri:3a~ 33450 ~ (hereinafter called
(Addressl
"Secured Party"). a security interest in the property described below (hereinafter collectively called
"Collateral ") to serure the payment of the principa) and interest on and all obligations under a note
~hereinafter called the "Note"), dated °'a _h S~ 1 n~ 1 . of the Debtor payable to the
order oftheSecuredParty, in the principal amount o( ,. Dollars
~s 3`~~ U?l3 On ~. all renewals and extensions o the ~lote, end ali costs, expenses, advances
and liabilities which may be made or incorred b~~ Secured Party in the disbursement. administration and
culleetion of the loan evidenced by the ~Iote and in the protection, maintenance and liquidation of the security
interest hereby granted with interest at the maximum Icgal rate on such costs. expenses, advances and
liabilities. The :~ote and all other obligatians secured hereby are herein collectively called the "I.iabilities."
2. l~he Collateral in w•hich this security interest is granted is all of the Debtor's propert~• desc~ibed beloN• in relerence
to ~vhich an "11" or checkmark has been placed in the box applicabie thereto. together with all proceeds and products
therefn~m. (f tN•osuchboxesare so mar~:ed~ the security interest so designated secures the purchase mone~~ from the loan
used by the Debtor to :~cquire tide to the Collater:~l.
~ a e. All equipment and machinery•, including powewdriven machinen' and equipment,
fumiturc and fixturPs noh~ owned or hereaiter acquired, to~ether with all replacements
thereof, all attachments, accessories, p.-rts and tools belonqinR thereto or for use in
connection therewith.
~ ~ h. all p:~ssenRer and commercial motor vehicles reRistered for use upon public high~~:,.~s
nr strcets, now ow•ned or herea(ter acquired, toKether hith al) replacements thereof~
~ aU aUachments, accessories~ parts, equipment and tools belonFinR thereto or ~~r use in
connection therew•ith
L.-I ~ c. Al) in~~entory, r~:v materials, „orl: in process and supplies nuN- owned or hereafter acquired.
D ~ d. 111 accounts recei~•ahle now outstandinR or hereafter arisinR.
~ D e. 111 rontract riRhts and Reneral in~anRibles now in force or hereafter acquired.
3. Debtor shall uot transfcr, sell or assiqn Debtor's interest in the Collateral nor permit an~~ uthcr security interest
to be created thereun w•ithout Securcd 1'arty's prior~ written approval, except that Debtor may sell the inventor~- list~d
in E'araqraph 2.c. hereo( in the ordinary course of busine4s on customary terms and at usual prices and may collecl
as Secured I'arty's aRent sums dae .~n accounts recei~able and contract riRhts listed in Parz~Rraphs 2.d. and 2.e. until
advised othcrwise by Sccured Part~.
SBA FORM 1059 f6-7e1 REF SOP 7050 USE 12-~7 EDITION UNTIL EXHAUSTEU
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