SECURITY AGREEMENT April 30, 1999 MICCO Corporation c/o Buck A. Mickel 245 East Broad Street Suite A Greenville, South Carolina 29601 (Individually and collectively "Debtor") First Union National Bank 55 Beattie Place Greenville, South Carolina 29602...Security Agreement • July 11th, 2000 • Shaw Minor M • Wholesale-apparel, piece goods & notions
For value received and to secure payment and performance of the Promissory Note executed by RS1 Holdings, Inc. ("Borrower") dated of even date herewith, in the original principal amount of $500,000.00, payable to Bank, and any extensions, renewals, modifications or novations thereof (the "Note"), this Security Agreement and the other Loan Documents, and any other obligations of Borrower to Bank however created, arising or evidenced, whether direct or indirect, absolute or contingent, now existing or hereafter arising or acquired, and whether or not evidenced by a Loan Document, including swap agreements (as defined in 11 U.S.C. Section 101), future advances, and all costs and expenses incurred by Bank to obtain, preserve, perfect and enforce the security interest granted herein and to maintain, preserve and collect the property subject to the security interest (collectively, "Obligations"), Debtor hereby grants to Bank a continuing security interest in and lien upon the following descr
