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5. Prompdy to not'ffy Secured Party of any change m the locauon of the Colla[eral.
<br />6. To pay all taxes and assessmems of everv nature which may be levied or assessed agamst the Collareral.
<br />7. Not ro pertnit or allav any adverse hen. secunry mterest or encumbcance whatscever upon the Coliateral and not to
<br />perm�t the same [o be attached or replevmed
<br />8. 'Iliat the Collazeral is in guod cond�tion, and ttiat he wili, at his own expense, keep the same m good condition and
<br />from time to nme, forthwith, replace and repa�r all such pazu of the Collateral as ma}� be broken, wom out, or damaged without
<br />allowmg any hen ro be created upon the Collareral on account of such replacement or repaus, and that the Secured Party may
<br />examine and mspect the Collateral a[ any time, wherever located
<br />9. 'Iha[ he will not use the Collateral in �iolahon of any appl�cable statutes, iegulations or ordinances.
<br />10. The Deb[or will keep the Collateral at all nmes insured agamst risks of loss or damage by fire (including so-
<br />called extended coverage), thef[ and such other casuatt�es az the Secured Pany may reasonably require, including collis�on
<br />in the case of any motor veh�cle, all in such amoun[s, under such forms of policies, upon such terms, for such periods, and
<br />written by such compames or underwriters as the Secured Party may approve, losses in all cases to be payable to the
<br />Secured Party and the Deb[or as their in�erest may appear. All pol�cies oF insurance shall provide for at least ten days' prior
<br />wruten naue of cancellation to the Secured Pany; and the Debtor shail furnish the Secured Party with certificates of such
<br />insurance or other evidence satisfactory to the Secured Party as to compl�ance with the prov�sions of this paragraph. The
<br />Secured Party may ac[ as a[rorney for the Debtor in makmg, adjusung and setding claims under or cancelling such
<br />insurance and endorsing the Debtor's name on any drafts drawn by insurers oC the Collateral.
<br />UN'ITL DEFAULT Debtor may have possession of the Colla�erel and use it in any lawful manner, and upon default
<br />Secured P�arty shall have the immediate right to the possess�on of the Colla�eral.
<br />DEBTOR SHALL BE IN DEFAULT under this ag�ee � the happenin¢ of any of the followmg events or
<br />condirions:
<br />(a) default m the payment or perfortnance of an , li n n, covenant or liabiliry contained or referred to herein or in any
<br />�cNe evidencing [he same; T
<br />(b) thc makmg or fumishmg of any rese ti� � Secured Pany by or on behalf of Debtor
<br />wh�ch proves to have been false m any matenal en made or fumished;
<br />(c) loss, thek, damaee, deswcnon, sale or encumbiance to or of any of the Collateral, or �he making of any levy seizuie
<br />cr attachment thereof or theceon;
<br />(d) death, dissolution. temiination or exisrence, msolvency, business failure, appointment of a receiver of any pan of the
<br />propem of, assignment for the benefn o( creduors by, or the commencement of any proceeding under any bankruptcy or
<br />insolvency laws of, by or against Debtor or any guarantor or surery for Debtor.
<br />UPON SUCH DEFAULT and at any time thereafier. or 'ff it deems itself insecure, Secured Pam may declare all
<br />Obligations secuied hereby immediately due and payeble and shall have the remedies of a secured party under An�cle 9 of the
<br />CoVoraclo Cindorm Commercial Code. Secured Pany may �eqmre Uebtor to assemble �he Coll•rterrl and dehver or malce it
<br />available to Secured Pam at a plxe to be designated by Secured Party which is re•rsonably convenient [o both pan�es. Expenses of
<br />[etalcmg, holdmg, prepanng for sale, sclhng or che like shxll mclude Secured Party's reasonable attomry's fees and legal
<br />expenses.
<br />No w.�iver by Secured Party of xny default shall operate as a waiver of any other detault or of the same default on a future
<br />occatiion. 'Ihe taking of this secunry agreement shall not warve or �mpair any other secunry said Secured P�.u�y may have or
<br />bereafter acyuue for the paymen[ of the abcrve indebtedness, nor �hall the taking of uny such additional secunry w�ive or impair
<br />this secunry aereemenr, but said Secured P.ury• may reum ro any cecunq� �t may h�ve m the order n muy deem pruper, and
<br />nWwithstandine any colla[errl secunry, Secured P•uty shall retam its nghts of tie�-off a�amst Debtor.
<br />Ali nghts of Secured Parp hereunder shall mure to the benefi� of its succetwn and itisigm. and all promiseti and duues of
<br />Ekbtor shxll bmd his heirs, executon or admimstraton or h�s or us succetium or a,signs. If there be more than ane Deb[or, theu
<br />liabihnea hereunder tihall be x>mt and severul
<br />Da[e this ��� day of . �y �
<br />Deltt� � � Secured P� m "
<br />�, 1 �!1/ �J'/ . `�1.�� !�'.�JY �/V � �/ ac,C ��
<br />• � �� ,�, ,..�.��. �.2,��.�. ,. ��„w., �„ �.�,� ,.. ��� �.,�. �� �..��,. ,.�, .. ..� . ��„ .�,,,, ,���,...,.��
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