Laserfiche WebLink
<br />i' f <br />..- <br /> <br />5. Promptly to no Secured Party of any change in the location of l . Collateral. <br /> <br />6. To pay alllllXes and assessments of every nature which may be levied or assessed against the CollalellL <br /> <br />7. Not to pennit or allow any adverse lien, security interest or encumbrance whatsoever upon the Collater-land n<IJ <br />pennit the same to be attached or replevined. <br /> <br />8. That the Collateral is in good condition. and !hat he will, at his own expense. keep the same in goodc~ntl,. <br />from time to time, forthwith. replace and repair all such pans of the Collateral as may be broken, worn out, or cIamapl witb1l <br />allowing any lien to be cn:ated upon the Collateral on account of such replacement or repairs, and that the SecuredPalty III <br />examine and inspect the Collateral at any time, wherever located. <br /> <br />9. That he will not use the Collateral in violation of any applicable statUtes, regulations or ordinances. <br /> <br />'. <br />. <br /> <br />. <br /> <br />10. The Debtor will keep the Collateral at all times insured against risks of loss or damage by fire (indlding" <br />called extended coverage), theft and such other casualties as the Secured Party may reasonably require, includi~collisll. <br />in the case of any motor vehicle. all in such amounts. under such forms of policies, upon such terms, for such periods," <br />written by such companies or underwriters as the Secured Party may approve, losses in all cases [0 be pa)Qble to it< <br />Secured Party and the Debtor as their interest may appear. All policies of insurance shall provide for at least ten.ys' pdt <br />written notice of cancellation to the Secured Party; and the Debtor shall furnish the Secured Party with certific_ of sat. <br />insurance or other evidence satisfactory to the Secu,ed Party as to compliance with the provisions of this paragraph, 111 <br />Secured Party may act as attorney for the Debtor in making, adjusting and settling claims under or cancdling _ <br />insurance and endorsing the Debtor's name on any drafts drawn by insurers of the Collateral. <br /> <br />UNI1L DEFAULT Debtor may have possession of the Collateral and use it in any lawful manner. and upon de~ <br />Securea Party shall have the immediate right to the possession of the Collateral. <br /> <br />DEBTOR SHALL BE IN DEFAULT under this agreement upon the happening of any of the followi,,! eventsf1 <br />conditions: <br /> <br />(a) default in the payment or performance of any obligation, covenant or liability contained 0' refemd to hereirlor in. <br />note evidencing the same: <br /> <br />(b) the making or furnishing of any warr.mty. representalion or statement to Secured Party by or on behafof Deb1llr <br />which proves to have been false in any material respect when made or fumished; <br /> <br />(cJ loss, theft, damage, destruction, sale or encumbrance to or of any of the Collateral. orthe making of any Icvy seizIfJ: <br />or attachment thereof or thereon: <br /> <br />(d) death. dissolution. termination or existence. insolvency. business failure. appointment ofa receiver of any pan ofdtc <br />property of. assignment for the benefit of creditors by. 0' the commencement of any proceeding under any bankruptcy. <br />insolvency laws of. by or against Debtor 0' any guaranto, or surety fo, Debtor. <br /> <br />UPON SUCH DEFAULT and at any time thereafte" 0' if it deems itself insecure, Secured Party may declare ,., <br />Obligations secured hereby immediately due and payable and shall have the remedies of a secured party under Anicle 9 of t)l <br />Colorado Uniform Commercial Code. Secured Party may require Debtor to assemble the Collateral and deliver or malee l <br />available to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both parties, Expensesd <br />retaking, holding. preparing fo, sale, selling or the like shall include Secured Party's reasonable anomey's fees and lep <br />expenses. <br /> <br />No w.!.iver by Secured Party of any default shall operate as a \Wiver of any other default or of the same default on a futull <br />occasion. The taking of this security agreement shall not waive 0' impair any other security said Secured F'dlty may have ~ <br />hereafte, acquire fo, the payment of the above indebtedness, nor shall the taking of any such additional security w.ive or impalf <br />this security agreement; but said Secured Party may resort to any security it may have in the order it may deem proper, and <br />notwithstanding any collateral security. Secured Party shall retain its rights of set-off against Debtor. <br /> <br />All rights of Secured Party hereunder shall inure to the benefit of its successors and assigns: and all promises and duties rI <br />Debtor shall bind his heirs. executors or 3dministr.ltors or his or its successors or assigns. If there be more than one Debtor. their <br />liabilities hereunder shall be joint and several. <br /> <br />D':He th is <br /> <br />day of <br /> <br />,19 <br /> <br />DebtOr.r~ p~ 0-, . Secure'tf4Y;. _1 <br />7(~~ 7r~) ~U. J~ <br /> <br />1../ <br /> <br />- <br /> <br />- , <br /> <br />'If 1/1I, Sc,;un..,. "~"","n""" ".f\lrno.k.... ,,,........ "'" ~ rin.anr.:ln~ _ute,""n' "",,,umJ r-artY ... _ll.., rn< Jc..""... nul" ,,)::n <br />