EXHIBIT A
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FORM OF SECURITY AGREEMENT SUPPLEMENT
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SUPPLEMENT NO. TO SECURITY AGREEMENT DATED AS OF
BETWEEN
COOPERATIVE IMAGES, INC. and ELECTIVE INVESTMENTS, INC. (the BORROWER)
AND
XXXXX LEASING TECHNOLOGIES, INC. (the LENDER)
WHEREAS, the Borrower and the Lender entered into a certain Revolving
Credit Agreement, dated as of (which agreement, as the same may have been or
thereafter may be amended, supplemented, restated or otherwise, the LOAN
AGREEMENT) pursuant to which the Lender agreed to make Loans to the Borrower
in an amount not be exceed Six Million Dollars ($6,000,000.00);
WHEREAS, pursuant to the Loan Agreement, the Borrower and the Lender
entered into a certain Security Agreement dated as of (the SECURITY
AGREEMENT);
WHEREAS, pursuant to the Loan Agreement, the Borrower is obligated with
the making of each Loan to the Borrower to deliver to the Lender supplements
to the Security Agreement (which agreement, as the same may have been or
hereafter may be amended, supplemented, restated or otherwise, each, a
Security Agreement Supplement and collectively the Security Agreement
Supplements) and describing the Consumer Note Agreements which shall
constitute the Collateral for such Loan, and it is therefore a condition
precedent to the obligation of the Lender to make or maintain the Loans that
the Borrower shall execute and deliver to the Lender this Security Agreement
Supplement;
NOW, THEREFORE, the parties hereto hereby agree as follows (capitalized
terms which are not defined therein shall have the meanings given to them in
the Loan Agreement).
The Security Agreement is hereby amended and supplemented by the addition
thereto (in addition to any other Collateral added by previous Security
Agreement Supplements) of the Consumer Note Agreements listed on Exhibit T
annexed hereto.
Except as supplemented by this Supplement, the Security Agreement shall
continue unchanged and remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Supplement to be
duly executed this day of 1997,
WITNESS: COOPERATIVE IMAGES, INC. and ELECTIVE INVESTMENTS, INC.
By: /s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx, Chief Executive Officer
XXXXX LEASING TECHNOLOGIES,INC.
By: /s/ J. Xxxxxxx Xxxxx
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J. Xxxxxxx Xxxxx, Vice-President
