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<br />5. fTompli; 10 notii: 5',/'- ,-:'\d p..ur;. 01 an; change In me io.:anon 0j me Col>'e;-a!
<br />
<br />6. To pay all taXes and a.\~':e~sment:' of ('Very nature wnlen mi.lY he leVied 0:- ...._...cs~d agamst me Collaleral.
<br />
<br />i. Not to perrnll or allov.' an:- adven.e hen. ~ecunt)' mtereSI or encumnr.mce wnau.oever upon the COllaLe-faJ and nOt to
<br />permit the same to be ana:ned or replevined.
<br />
<br />S. That the CollaterJ.1 i~ in ~l)()(! condition, and that he wili. at hi~ ('tWn f'xpense, keer the same In good condition and
<br />from time 10 time. fonnwilh. replace and repair all such pan!' of the Collateral a'\ may De broken. worn OUL or damaged Wllhout
<br />ajj('I\Wmg any lien 10 be created u~n tOe Collalenll on aCCOunl of such replacement or repatrs. and that the Secured P'.my may
<br />ex.anune. and inspeCl the CollaterAl al any time. whe~r located.
<br />
<br />9. That he will nOI use the Collater..u in violation of any apphcabie. Starutes, regulations or ordinances.
<br />
<br />J O. The DeblOr will keep the CoUmeral al all times insured against risks of loss or damage bv fm (including so.
<br />called extended coverage 1. lhell and such other casuahies as the Secured Party may reasonably requiTe. including collision
<br />in the case of any mOlQr vehicle, all In such amounts. under such forms of policies. upon such lerms. for sucn penods. and
<br />""'nnen by such companies or underwriters as the Secured Pany may approve, losses in all cases to be pa~'able to the
<br />Secured Party and the Deblor as thelf interest may appear. All policies of insurance shall provide for at leasllen days' prior
<br />wrinen notice of cancellation 10 the Secured Party; and ti)e DeblOr shall furnish the Secured Party with certificates of such
<br />insurance or other evidence satisfaclory to the Secured ~any as to compli.ance with the proviSIOns of this par3graph. The
<br />Secured Party may aCI a~ anomey for the DeblOr 10 rl1akin~. adjusting and senlin!; claims under or cancelling such
<br />insurance and endorsing the Debtor's name on any drafts drnwn by insurers of the Coliateral.
<br />
<br />Ut\"fIL DEFAULT DeblOr may have possession of the Collater.ll and use il in any lawful manner. and upon default
<br />Secured Pany shall have the immedi:n.e righl lO the possession of the Coll:neral,
<br />
<br />DEBTOR SHAll. BE IN DEFAULT under thIS al"""menl upon the happening of an~' of the follOWing events or
<br />conditions:
<br />
<br />(a) d.efauh in the payment or periormance of any obii~3Iion, covenanl Of liability contained Or referred 10 herein or in any
<br />no~ evidencinf, the same;
<br />
<br />(b) the makin~ or fumishin; of :my ""'a."':""J.nry. rep'resent=ltion or st:ncmem 10 Secured. ~~' by 0:- on beh3Y of Debtor
<br />which proves to have been false in any mate~J respeCt \I.'hen mace or furnishec.:
<br />
<br />(:) loss. tner~, ~~e, de~:tjon. $:lie or en:Llmb~ce 10 or of :my of the ~oJl:l1e;:u. or the making of any l~\'y seizure
<br />or 3I'"~hment thcn:oi 0:- tnereot.:
<br />
<br />(d) dc:nh. dissolution. tennin:nion orcxiStence. ~Jvenc)~ business faiiure. n:ppointmcm oj 2 ~ceivei of any pa"l of the
<br />?TO~r::' of. assignmen:: tm the nenern of ~cinO:"S by. ('Ij the rommencemen. oj" ;my pro:eeo.mg uncie:-- any oankn1pt::y m
<br />insoivency 13""'s 0::' by or 2f'ainS! Detltcr (T.'" 2,.""1:-' F~"':L."'lto;'" or s~r:' jar Demo:.
<br />
<br />l:'"?QK SUC:-: DEFAL:= .anC :r. :my time tr_,~~. <r r r. ~ i~: in.l\e~. S~'1..'!'ec ~"'T)' Tr'~.' cie::~ ::J1
<br />Obiif':nions se:l.lrec nereby irnmedi:!lf'ly ci~ ::t..-..:j w:.wle and .st-.a.li twv~ m~ rem~die~ 0: ~ ~e::.:r:d ?:It\' uncier Anl:l: 9 of the
<br />Coic:-:.:.cio L'nDCml Comme::::-:::) COCl'e. S~.:reC h,"iY YT'.:J:. r:cu~ ~omj 10 a'\sembie me Coll:ueiJ.J and cieliver oj' make it
<br />C!\';liJab1t 10 Secured ?--..r:y ;I. ~ -p:ace to ~ Oe'ii~aI.e:C flY St:ClJred ?a.~' \4'hi::ri i~ rea"'On:Jbiy convenreni to rot!; p:lr~les. Expenses of
<br />r:~in;:. hoiciin2-. Prep;l!111f for saito scliiT!.f or the iiKt sr.a.li inciuu:: S~U PJ.T'l'y'~ r"~onOlbie Olnorney'5, fees ::10:: je;;al
<br />expenses.
<br />
<br />~o waiver hy Secured PO,,:,,,,:, of ~ny de:auh shall orx::;-.1tC;.i... ~ \l>iJiver 0; any Olher de:":Jul1 or of me ~;Jme cJej;Juh on:J fUlure
<br />occa...ion. Tne ;akm;: 0; thi:-, ~ecuri~, ~~n:em~nI Si.;J11 nn: v..OJive O~ Im~;Ji;" any nlh~r ~e;:urir:,' s;Ji~ Sc;:ure~ P;jj.y rr.:!y h;J\': 0:-
<br />nereanc ac~ulr: for the p;Jymenl of tho: OJOo\.~ inuenleLlne~",. nor ...bali In-: lai-..Jr:~ ni" ;Jn~' :o.ucn OJolilHllr.;Ji ~e::unty \,l,';jive or impuir
<br />this ~cum~ OlFreemenL hut saiL! S~CIlrt'J Pan: rT'.;J; re..or. In :,m~ ..('cunI) 11 m:l:' h;JW In tnt: onj(:; it n1<JY uc:::m proper. and
<br />nOlwnhswntim;: any collate:-J! s~L'un1). Sc:curew p;,tri;- snail n:iain II:- ri::hl" Ilj ~~l-ofr :.!::ams: rx:blm.
<br />
<br />All n~hl.. or S~...urew Pariy hen:unwt:'r shall mun= In tn::- rx:n~rilllf It.. ..Ul.:l.:c...M}r.. ;,mll a....!;!Os: .m~ 6111 promi..es am.! UUlle, of
<br />IXOIll~ ..hOJIl bmd hi... hC:lr~. e).CL'Uhlr..ll~ .J.Jmlllt..tiOJI01.. ,If hi,m Ii" ,u..:(t:..",r.. or a...,i~n",. II Ih~r'': iT.: mlll~ In;Jn one Dch\O;, men
<br />i!4;lhihllC, ht:reunut:r ..;hall b= Jlln: :mJ "L"VCiOJ!
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<br />EXHIBITD::'1
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