HomeMy WebLinkAbout0925 or provis3ons referred to in this Agreement, and any other agree-
ment executed with zeference to this Agreement or in any inatrument
further securing any of the obligationss .
8. If any warranty, repre~entation or statement contained
in this Agreement or made or furnished to SECURED PARTY by or on
behalf of DEBTOR in connection with the Aqreement or to ~nduce
SECURED PARTY to loan money to DEBTOR provea to be false in any
material respect when made or furniahed.
~ C. Sale, $ssignment, or use of the collateral, except
if authorized by thia Agreement, or encumbrances of any og the
. ,
collateral, or the filinq of auit for the purposea of or the makinq
of'any levy, geizure or attachment thereof or thereont
D. Insolvency, appointment of a Receiver of any part
~ of the collateral,the calling of any meeting of or the,a~aiqnment
for the benefit of creditore by, or the comm~ncement of any pro-
ceedings under any bankruptcy or insolvency laws by or against
DEBTOR. . .
E. Any default by DEBTOR in perfoz~mance of hfs
resp~ctive obligations under the terms and conditions of the
Second Purchase Money Mortgage, Escrow Agreement or Right of •
First Refusal, entered into be~ween SECURED PARTY and DEBTOR of
. even date herewith.
8. On default hereunder or under any obligation secured
hereby, SECURED PARTY may, without notice to DEBTOR, take posses- ~
sion af the collateral and may enter upon DEBTOR'S premie~s for
the purposes of taking passe$sion of the collateral. ,
9. On default.hereunder or under any obligation secured
• he=eby, SECURED PARTY may, without notice to DEBTOR, acCelerate
the paymer~cor perEormance of any or all of DEBTOR'S obliqations~
hereunder. ~
10. Whenever the co2lateral is in the passession ot SECURED
PARTY it may use, and consume the collateral ae appropriate for
the purpose of gerforming DEBTOR'S obligations with respect ~
thereto. ~ ' '
11. ~`f SECURED PARTY comes into posseseion of coilateral d• .
~ -3- °aooK 5.78 PAGf ~ 9~9
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