HomeMy WebLinkAbout0945 or provisions referred to in this Agreement, and any other agxee-
ment executed with reference to this Agreement or in any instzument
further securing any o£ the obligations;
8. If any warranty, representation or statement contained
in this Agreement or made or furnished to SECURED PARTY by or on
behalf of DEBTOR in connection with the Agreement or to induce
SECURED PARTY to loan money to DEBTOR proves to be false in any ,
material respect when made or furn~shed. ~
• C. Sale, assignment, or use of the collateral, except
if authorized by this Agreement, or encumbrances of any of the ,
collateral, or the filing of suit for the purposes of or the making j
of~any levy, seizure or attachment thereof or thereon; !
D. Insolvency, appointment of a Receiver of any part
_
of the collateral,the calling oE any meeting of or the.assignment
~
for the benefit of creditors by, or the commencement of any pro-
i
,
ceedings under any bankruptcy or insolvency laws by or against ~
DEBTOR. . ~
E. M1Any default by DEHTOR in performance of his ~
1
respective obligations under the terms and conditions of the ~
~
:
Second Purchase Money Mortgage, Escrow Agreement or Right of ~
First Refusal, entered into between 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 of the collateral and may enter upon DEBTOR'S premises for
the purposes o€ taking possession of the collafieral. .
9. On default.hereunder or under any obligation secured
~ hereby, SECURED PARTY may, without notice to DEBTOR, accelerate
the paymert or performance of any or all of DEBTOR'S obligations
hereunder.
10. Whenever the collateral is in the possession ot SECURED
PARTY it may use, and consume the collateral as appropriate for
the purpose of performing DEBTOR'S obligations with respect
thereto. ~ ' ~
lI. I`f SECURED PARTY comes into possesaion of collateral as
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