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8. All expenses, including attorneys' fees and legal '
expenses incurred or paid by SECURED PARTY in the preservation
or enforcement of its rights or obligations of DEBTOR hereunder,
;
including such expenses incurred by SECURED PARTY in performing ~
on behalf of DEBTOR any obligations of DEBTOR. _ +
;
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3. DEBTOR shall have the right to sell and transfer title ~
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to the collateral or any part thereof, provided, however, DEBTOR t
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shall first adhere to the requirements set forth in that certain
RIGHT OF FIRST BEFUSAL entered into between BOWEN BROTHERS, INC.,
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a Florida corporation and PAUL H. FREEMAN, as Trustee, dated
September 1982, a true copy of which is attached hereto as
Schedule "B" and made a part hereof by reference; and, secondly,
provided further, DEBTOR shall adhere to the =equirements set
forth in that certain ESCROW AGREEMENT between SECURED PARTY,
DEBTOR, and MORA & FREEMAN,ATTORNEYS AT LAW, dated September~~t,
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1982, a true copy o£ which is attached hereto as Schedule "C" and
made a part hereof by reference, pertaining to proceeds obtained
from the sale of the collateral. SECURED PARTY agrees to provide
DEBTOR with releases from the lien created on the collateral here-
under when appropriate and when requested by DEBTOR. Any such
~ release shall be promptly executed by SECURED PARTY and returned ~
.
~ ~ to DEBTOR.
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4. No financing statement covering any of the collateral
or proceeds thereof is on file in any public office.
5. SECURED PARTY shall have the right at all reasonable
times to examine and inspect the collateral. ~
6. DEBTOR agrees to pay when due all taxes, and other
charges in connecti.on with the collateral. Any advances made by
SECURED PARTY for any such pruposes shall bear interes~ at ~he
highest rate allowable under Florida law and shall be due on
demand.
7. DEBTOR will be in default upon the happening of any of
the following events or conditi.ons, (hereinafter called an
"event of def~ult"~).:
A. Failure to make punctual payment when due of any
of the obligations or failure to perform any of the aqreements
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2 BOOK~ 10 PAGf 9~3v
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