EX-10.31
[Letterhead of EAB]
GENERAL SECURITY AGREEMENT*
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Date: 7/31,1996
The undersigned (herein, whether one or more in number, referred to as
"Debtor" and which, if two or more in number, shall be jointly and severally
bound) with an address as it appears with the signature below, hereby agree(s)
in favor of European American Bank, a New York banking corporation having its
principal office at Xxx XXX Xxxxx, Xxxxxxxxx, Xxx Xxxx (herein referred to as
"Secured Party"), as follows:
1. Security Interest.
(a) Grant of Security. As security for the Obligations (as defined below),
Debtor hereby grants to Secured Party a first priority security interest in, all
of Debtor's right, title and interest, whether now existing or hereafter arising
or acquired, in and to any and all items of personal property described on
Schedule A hereto together with all attachments, accessions and equipment now or
hereafter affixed thereto or used in connection therewith, all substitutions and
replacements thereof and any products and proceeds thereof (the "Collateral").
Security for Obligations. This Security Agreement secures the payment of
all now existing or hereafter arising obligations of Debtor to Secured Party,
whether primary or secondary, direct or indirect, absolute or contingent, joint
or several, secured or unsecured, due or not, liquidated or unliquidated,
arising by operation of law or otherwise under any promissory note, guarantee,
loan or credit agreement, letter of credit, draft, acceptance, interest rate or
foreign exchange agreement, mortgage or other documents evidencing indebtedness
whether for principal, interest, fees, expenses or otherwise, together with all
costs of collection or enforcement, including, without limitation, reasonable
attorneys' fees incurred in any collection efforts or in any action or
proceeding (all such obligations being the "Obligations").
(c) Debtor Remains Liable. This Security Agreement shall not affect
Debtor's liability to perform all of its duties and obligations under the
transactions giving rise to the Obligations. The exercise by Secured Party of
any of the rights hereunder shall not release Debtor from any of its duties or
obligations under the transactions giving rise to the Obligations, which shall
remain unchanged as if this Security Agreement had not been executed. Secured
Party shall not have any obligation or liability under the transactions giving
rise to the Obligations by reason of this Security Agreement, nor shall Secured
Party be obligated to perform any of the obligations or duties of Debtor
thereunder or to take any action to collect or enforce any claim for payment
assigned hereunder.
(d) Continuing Agreement. This Security Agreement shall create a continuing
security interest in the Collateral and shall remain in full force and effect
until payment in full of the Obligations.
2 Debtor's Title; Liens and Encumbrances.
Debtor represents and warrants that Debtor is, or to the extent that this
Security Agreement states that the Collateral is to be acquired after the date
hereof, will be, the owner of the Collateral, having good and marketable title
thereto, free from any and all liens, security interests, encumbrances and
claims. Debtor will not create, assume or permit to exist any such lien,
security interest, encumbrance or claim on or against the Collateral except as
permitted by this Security Agreement, and Debtor will promptly notify Secured
Party of any such other claim, lien, security interest or other encumbrance made
or asserted against the Collateral and will defend the Collateral against any
such claim, lien, security interest or other encumbrance.
3. Representations and Warranties;
Location of Collateral and Records;
Business and Trade Names of Debtor.
(a) Debtor represents and warrants to Secured Party as follows: Debtor has
no place of business, offices where Debtor's books of account and records are
kept, or places where the Collateral is used, stored or located, except as set
forth on Schedule I annexed hereto. Debtor shall promptly notify Secured Party
of any change in the foregoing representation. Debtor shall at all times
maintain its records as to the Collateral at its chief place of business at the
address referred to on Schedule I and at none other. Debtor
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* This form is intended for use if collateral is personal property. Not intended
for use if collateral is any form of bank account or marketable securities.
further covenants that, except for Collateral delivered to Secured Party or an
agent for Secured Party, Debtor will not store, use or locate any of the
Collateral at any place other than as listed on Schedule I annexed hereto.
(b) Debtor currently uses, and during the last five years has used, no
business or trade names, except as set forth on Schedule I annexed hereto.
Debtor shall promptly notify Secured Party, in sufficient detail, of any changes
in, additions to, or deletions from the business or trade names used by Debtor
for billing purposes.
(c) The Collateral is now and will be used in Debtor's business and not for
personal, family, household or farming use.
(d) Debtor has paid and will continue to pay or otherwise provide for the
payment when due, of all taxes, assessments or contributions required by law
which have been or may be assessed or levied against Debtor, whether with
respect to any of the Collateral, to any wages or salaries paid by Debtor, or
otherwise, and will deliver satisfactory proof of such payment to Secured Party
on demand.
(e) The grant of the security interest in the Collateral is effective to
vest in Secured Party a valid first priority security interest, superior to the
rights of any person in and to the Collateral as set forth herein.
4. Perfection of Security Interest.
Debtor shall execute all such financing statements pursuant to the Uniform
Commercial Code or other notices appropriate under applicable law, including the
Federal Assignment of Claims Act and any state motor vehicles registration
statute, as Secured Party may require, each in form satisfactory to Secured
Party. Debtor also shall pay all filing or recording costs with respect thereto,
and all costs of filing or recording this Security Agreement or any other
agreement or document executed and delivered pursuant hereto or to the
Obligations (including the cost of all federal, state or local mortgage,
documentary, stamp or other taxes), in each case, in all public offices where
filing or recording is deemed by Secured Party to be necessary or desirable.
Debtor authorizes Secured Party to (i) file any Uniform Commercial Code
financing statements or amendments thereto without the signature of Debtor or by
signing of Debtor's name to any such financing statements as its
attorney-in-fact, (ii) file a photographic or other reproduction of this
Security Agreement as a financing statement, (iii) file notices of assignment
pursuant to the Federal Assignment of Claims Act, (iv) file applications for
certificates of title or (v) take all other action which Secured Party may deem
necessary or desirable to perfect or otherwise protect the liens and security
interests created hereunder and to obtain the benefits of this Security
Agreement.
5. General Covenants.
Debtor shall:
(a) furnish Secured Party from time to time, at Secured Party's request,
written statements and schedules further identifying and describing the
Collateral in such detail as Secured Party may reasonably require;
(b) advise Secured Party promptly, in sufficient detail, of any substantial
change in the Collateral or of the occurrence of any event which would affect
the value of the Collateral or Secured Party's security interest therein;
(c) comply with all acts, rules, regulations and orders of any legislative,
administrative or judicial body or official applicable to Debtor or any
Collateral or to the operation of Debtor's business except where the failure to
comply (i) is non-material and (ii) has no effect on the value of the Collateral
or on the ability of Secured Party to exercise its rights and remedies
hereunder;
(d) perform and observe all covenants, restrictions and conditions
contained in any agreement or document executed in connection with the
Obligations as though the same were fully set forth in this Security Agreement;
(e) promptly execute and deliver to Secured Party such further agreements
or other instruments and take such further action from time to time as Secured
Party may deem necessary to perfect, protect or enforce its security interests
in the Collateral or otherwise to effect the intent of this Security Agreement;
(f) keep or cause to be kept the Collateral in good working order and
marketable condition, ordinary wear and tear excepted;
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(g) insure the Collateral against loss or damage by fire or other hazards,
and extended coverage, theft, burglary, bodily injury and such other risks, with
such companies and in such amounts, as is required by Secured Party at any time;
(h) use the Collateral for lawful purposes only in conformity with all
laws, rules and regulations;
(i) allow Secured Party and its agents, at all reasonable times, to inspect
any of the Collateral and to examine and make extracts from Debtor's books and
records relating to the Collateral; and
(j) not assign, sell, mortgage, lease, transfer, pledge, grant a security
interest in or lien upon, encumber or otherwise dispose of or abandon, any part
or all of the Collateral, without the express prior written consent of Secured
Party, except for the sale from time to time in the ordinary course of business
of Debtor of such items of Collateral as may constitute part of the business
inventory of Debtor.
6. Assignment of Insurance.
At or prior to the date hereof, Debtor shall deliver to Secured Party
certificates of the issuing companies with respect to all policies of insurance
owned by Debtor covering or in any manner relating to the Collateral, in form
and substance satisfactory to Secured Party, naming Secured Party as an
additional insured party as its interests may appear with respect to liability
coverage and as loss payee with respect to property and extended insurance
coverage, and indicating that no such policy will be terminated, or reduced in
coverage or amount, without at least thirty (30) days prior written notice from
the insurer to Secured Party. Debtor hereby assigns to Secured Party all sums,
including returned or unearned premiums, which may become payable under or in
respect of any such policy of insurance, and Debtor hereby directs each
insurance company issuing any such policy to make payment of sums directly to
Secured Party. Debtor hereby appoints Secured Party as Debtor's attorney-in-fact
with authority to endorse any check or draft representing any such payment and
to execute any proof of claim, subrogation receipt and any other document
required by such insurance company as a condition to or otherwise in connection
with such payment, and upon the occurrence of any Event of Default, to cancel,
assign or surrender any such policies. All such sums received by Secured Party
shall be applied by Secured Party to satisfaction of the Obligations or, to the
extent that such sums represent unearned premiums in respect of any policy of
insurance on the Collateral refunded by reason of cancellation, toward payment
for similar insurance protecting the respective interests of Debtor and Secured
Party, or as otherwise required by applicable law.
7. Fixtures.
Except to the extent that fixtures are included in the description of the
Collateral in Schedule A hereto, it is the intent of Debtor and Secured Party
that none of the Collateral is or shall be regarded as fixtures, as that term is
used or defined in Article 9 of the Uniform Commercial Code, and Debtor
represents and warrants that it has not made and is not bound by any lease or
other agreement which is inconsistent with such intent. Nevertheless, if the
Collateral or any part thereof is or is to become attached or affixed to any
real estate, Debtor will, upon request, furnish Secured Party with a disclaimer
or subordination in form satisfactory to Secured Party of the holder of any
interest in the real estate to which the Collateral is attached or affixed,
together with the names and addresses of the record owners of, and all other
persons having interest in, and a general description of, such real estate.
8. Collections.
(a) Except as provided herein, Debtor may collect all checks, drafts, cash
or other remittances (i) in payment of any of its accounts, contract rights or
general intangibles constituting part of the Collateral, (ii) in payment of any
Collateral sold, transferred, leased or otherwise disposed of, or (iii) in
payment of or in account of its accounts, contracts, notes, drafts, acceptances
and all other forms of obligations relating to any of the Collateral so sold,
transferred, or leased or otherwise disposed of. All of the foregoing amounts so
collected after the occurrence of an Event of Default shall be held in trust by
Debtor for and as the property of Secured Party, and shall not be commingled
with other funds, money or property of Debtor.
(b) Upon the request of Secured Party, Debtor will immediately upon receipt
of all such checks, drafts, cash or other remittances in payment of any of its
accounts, contract rights or general intangibles constituting part of the
Collateral or in payment for any Collateral sold, transferred, leased or
otherwise disposed of, deliver any such items to Secured Party accompanied by a
remittance report in form supplied or approved by Secured Party. Debtor shall
deliver such items in the same form received, endorsed or otherwise assigned by
Debtor where necessary to permit collection of such items.
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(c) Upon the request of Secured Party, Debtor will promptly notify Secured
Party in writing of the return or rejection of any goods represented by any
accounts, contract rights or general intangibles and Debtor shall forthwith
account therefor to Secured Party in cash without demand or notice. Until such
payment has been received by Secured Party, Debtor will receive and hold all
such goods separate and apart, in trust for and subject to the security interest
in favor of Secured Party, and Secured Party is authorized to sell, for Debtor's
account and at Debtor's sole risk, all or any part of such goods.
(d) In its discretion, Secured Party may, upon the occurrence of an Event
of Default, in its name or Debtor's or otherwise, notify any account debtor or
obligor of any account, contract, instrument, chattel paper or general
intangible included in the Collateral to make payment to Secured Party.
(e) All of the foregoing remittances shall be applied and credited by
Secured Party in accordance with the provisions of Section 10(c) of this
Security Agreement.
9. Events of Default.
The occurrence of any one or more of the following events shall constitute
an event of default ("Event of Default") by Debtor under this Security
Agreement: (a) if a "Default" or "Event of Default" shall occur under the terms
of any agreement giving rise to or executed in connection with the Obligations;
(b) if at any time Secured Party shall, in its sole discretion, consider the
Obligations insecure or any part of the Collateral unsafe, insecure or
insufficient, and Debtor shall not on demand furnish other collateral or make
payment on account, satisfactory to Secured Party; (c) if Debtor or any obligor,
guarantor of or any party to any of the Obligations or the Collateral (the same,
including Debtor, being collectively referred to herein as "Obligors") shall
default in the punctual payment of any sum payable with respect to, or in the
observance or performance of any of the terms and conditions of, any Obligations
or of this Security Agreement or any other agreement between any Obligor and
Secured Party; (d) if any warranty or representation made to Secured Party by or
on behalf of any Obligor is false or misleading in any material respect; (e) in
the event of loss, theft, substantial damage to or destruction of any
Collateral, or the making or filing of any lien, levy, or execution on, or
seizure, attachment or garnishment of, any of the Collateral; (f) if any of the
Obligors being a natural person or any general partner or member of an Obligor
which is a partnership or a limited liability company, shall die or (being a
partnership, limited liability company or corporation) shall be dissolved, or if
any of the Obligors (if an entity) shall fail to maintain its existence in good
standing; (g) if any of the Obligors shall become insolvent (however defined or
evidenced) or make an assignment for the benefit of creditors, or make or send
notice of an intended bulk transfer, or if there shall be convened a meeting of
the creditors or principal creditors of any of the Obligors or if a committee of
creditors is appointed for any of them; (h) if there shall be filed by or
against any of the Obligors any petition for any relief under the bankruptcy
laws of the United States now or hereafter in effect or under any insolvency,
readjustment of debt, dissolution or liquidation law or statute of any
jurisdiction now or hereafter in effect (whether at law or in equity); (i) if
the usual business of any of the Obligors shall be terminated or suspended; (j)
if any proceedings, procedure or remedy supplementary to or in enforcement of
judgment shall be commenced against, or with respect to any property of, any of
the Obligors; or (k) if any petition or application to any court or tribunal, at
law or in equity, be filed by or against any of the Obligors for the appointment
of any receiver or trustee for any of the Obligors or any part of the property
of any of them.
10. Rights and Remedies.
(a) In the event of the occurrence and continuance of any Event of Default,
Secured Party shall at any time thereafter have the right, with or without (to
the extent permitted by applicable law) notice to Debtor, as to any or all of
the Collateral, by any available judicial procedure or without judicial process,
to take possession of the Collateral and without liability for trespass to enter
any premises where the Collateral may be located for the purpose of taking
possession of or removing the Collateral, and generally to exercise any and all
rights afforded to a secured party under the Uniform Commercial Code or other
applicable law. Without limiting the generality of the foregoing, Debtor agrees
that Secured Party shall have the right to sell, lease, or otherwise dispose of
all or any part of the Collateral, whether in its then condition or after
further preparation or processing, either at public or private sale or at any
broker's board, in lots or in bulk, for cash or for credit, with or without
warranties or representations, and upon such terms and conditions, all as
Secured Party in its sole discretion may deem advisable, and Secured Party shall
have the right to purchase at any such sale; and, if any Collateral shall
require rebuilding, repairing, maintenance, preparation, or is in process or
other unfinished state, Secured Party shall have the right, at its sole option
and discretion, and at Debtor's sole cost and expense, to do such rebuilding,
repairing, preparation, processing or completion of manufacturing, for the
purpose of putting the Collateral in such saleable or disposable form as it
shall deem appropriate. At Secured Party's request, Debtor shall assemble the
Collateral and make it available to Secured Party at places which Secured Party
shall select, whether at Debtor's premises or elsewhere, and make available to
Secured Party, without rent, all of Debtor's premises and facilities for the
purpose of Secured Party's taking possession of, removing or putting the
Collateral in saleable or disposable form. If any of the Collater-
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al consists of motor vehicles, Secured Party may use Debtor's license plates.
(b) Any such sale, lease or other disposition of Collateral may be made
without demand for performance or any notice of advertisement whatsoever except
that where an applicable statute requires reasonable notice of sale or other
disposition, Debtor agrees that the sending of five days notice by ordinary
mail, postage prepaid, to Debtor of the place and time of any public sale or of
the time at which any private sale or other intended disposition is to be made,
shall be deemed reasonable notice thereof. Notwithstanding the foregoing, if any
of the Collateral is perishable and may be materially diminished in value during
such five day period, Secured Party shall provide Debtor with such shorter
notice as it deems reasonable under the circumstances.
(c) The proceeds of any such sale, lease or other disposition of the
Collateral shall be applied first to the expenses of retaking, holding, storing,
processing and preparing for sale, selling, and the like, and to the reasonable
attorneys' fees and legal expenses incurred by Secured Party, and then to
satisfaction of the Obligations, and to the payment of any other amounts
required by applicable law, after which Secured Party shall account to Debtor
for any surplus proceeds. If, upon the sale, lease or other disposition of the
Collateral, the proceeds thereof are insufficient to pay all amounts to which
Secured Party is legally entitled, Debtor will be liable for the deficiency,
together with interest thereon, at the rate prescribed in the agreements giving
rise to the Obligations, and the reasonable fees of any attorneys employed by
Secured Party to collect such deficiency. To the extent permitted by applicable
law, Debtor waives all claims, damages and demands against Secured Party arising
out of the repossession, removal, retention or sale of the Collateral.
11. Costs and Expenses.
Any and all fees, costs and expenses, of whatever kind or nature, including
the reasonable attorneys' fees and legal expenses incurred by Secured Party, in
connection with the filing or recording of financing statements and other
documents (including all taxes in connection therewith) in public offices, the
payment or discharge of any taxes, insurance premiums, encumbrances or otherwise
protecting, maintaining or preserving the Collateral and Secured Party's
security interest therein, or in defending or prosecuting any actions or
proceedings arising out of or related to the transaction to which this Security
Agreement relates, shall be paid by Debtor on demand. Until so paid, all such
amounts shall be added to the principal amount of the Obligations and shall bear
interest at the rate prescribed in the agreements giving rise to the
Obligations.
12. Power of Attorney.
Debtor authorizes Secured Party and does hereby make, constitute and
appoint Secured Party, and any officer or agent of Secured Party, with full
power of substitution, as Debtor's true and lawful attorney-in-fact, with power,
in its own name or in the name of Debtor: (a) to endorse any notes, checks,
drafts, money orders, or other instruments of payment (including payments
payable under or in respect of any policy of insurance) in respect of the
Collateral that may come into possession of Secured Party; (b) to sign and
endorse any invoice, freight or express xxxx, xxxx of lading, storage or
warehouse receipts, drafts against debtors, assignments, verifications and
notices in connection with accounts, and other documents relating to Collateral;
(c) to pay or discharge any taxes, liens, security interest or other
encumbrances at any time levied or placed on or threatened against the
Collateral; (d) to demand, collect, receipt for, compromise, settle and xxx for
monies due in respect of the Collateral; (e) to receive, open and dispose of all
mail addressed to Debtor and to notify the Post Office authorities to change the
address for delivery of mail addressed to Debtor to such address as Secured
Party may designate; and (f) generally to do all acts and things which Secured
Party deems necessary to protect, preserve and realize upon the Collateral and
Secured Party's security interest therein. Debtor hereby approves and ratifies
all acts of said attorney or designee, who shall not be liable for any acts of
commission or omission, nor for any error or judgment or mistake of fact or law
except for its own gross negligence or willful misconduct. This power of
attorney shall be irrevocable for the term of this Security Agreement and
thereafter as long as any of the Obligations shall be outstanding.
13. Notices.
Unless the party to be notified otherwise notifies the other party in
writing as provided in this Section, notices shall be given hereunder by
telecopy, by certified mail or by recognized overnight delivery services to
Debtor at its address on the signature page of this Security Agreement and to
Secured Party at Xxx XXX Xxxxx, Xxxxxxxxx, Xxx Xxxx 00000, Attn.: Legal
Department. Notices shall be effective (a) if given by certified mail, on the
third day after deposit in the mails with postage prepaid, addressed as
aforesaid; (b) if given by recognized overnight delivery service, on the
business day following deposit with such service, addressed as aforesaid; or (c)
if given by telecopy, when the telecopy is transmitted to the telecopy number as
aforesaid; provided that all notices to Secured Party shall be effective on
receipt.
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14. Other Security.
To the extent that the Obligations are now or hereafter secured by property
other than the Collateral or by the guarantee, endorsement or property of any
other person, then Secured Party shall have the right in its sole discretion to
pursue, relinquish, subordinate, modify or take any other action with respect
thereto, without in any way modifying or affecting any of Secured Party's rights
and remedies hereunder.
15. Further Security.
To further secure the Obligations, Debtor hereby grants, pledges and
assigns to Secured Party a continuing lien on, security interest in and rights
of set-off in all money, securities and other property of Debtor, and the
proceeds thereof, how or here-after actually or constructively held or received
by or for Secured Party or any affiliate of Secured Party. Debtor hereby
authorizes Secured Party to deliver a copy of this Agreement to others as
written notification of Debtor's transfer of a security interest in the
foregoing property. Secured Party is hereby authorized at any time and from time
to time, without notice, to apply all or part of such moneys, securities,
property, proceeds, deposits or credits to any of the Obligations in such
amounts as Secured Party may elect in its sole and absolute discretion, although
the Obligations may then be contingent or unmatured and whether or not the
collateral security may be deemed adequate.
16. Miscellaneous.
(a) Beyond the safe custody thereof, Secured Party shall have no duty as to
the collection of any Collateral in its possession or control or in the
possession or control of any agent or nominee of Secured Party, or any income
thereon or as to the preservation of rights against prior parties or any other
rights pertaining thereto.
(b) No course of dealing between Debtor and Secured Party, or Secured
Party's failure to exercise or delay in exercising any right, power or privilege
hereunder shall operate as a waiver thereof. Any single or partial exercise of
any right, power or privilege hereunder shall not preclude any other or further
exercise thereof or the exercise of any other right, power or privilege.
(c) All of Secured Party's rights and remedies with respect to the
Collateral, whether established hereby or by any other agreements, instruments
or documents or by law, shall be cumulative and may be exercised singly or
concurrently.
(d) This Security Agreement may be amended or modified, and a provision
hereof may be waived, only by a writing signed by all of the patties hereto.
(e) The provisions of this Security Agreement are severable, and if any
clause or provision shall be held invalid or unenforceable in whole or in part
in any jurisdiction, then such invalidity or unenforceability shall affect only
such clause or provision, or part thereof, in such jurisdiction and shall not in
any manner affect such clause or provision in any other jurisdiction, or any
other clause or provision of this Security Agreement in any jurisdiction.
(f) The benefits of this Security Agreement shall inure to the benefit of
the successors and assigns of Secured Party. The rights and obligations of
Debtor under this Security Agreement shall not be assigned or delegated without
the prior consent of Secured Party.
(g) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ITS CONFLICTS OF LAWS
PRINCIPLES.
(h) Debtor hereby irrevocably consents to the jurisdiction of the courts of
the State of New York and of any Federal Court located in such State in
connection with any action or proceeding arising out of or relating to the
Obligations, this Security Agreement or the Collateral, or any document or
instrument delivered with respect to any of the Obligations. Debtor hereby
waives personal service of any summons, complaint or other process in connection
with any such action or proceeding and agrees that the service thereof may be
made by certified mail directed to Debtor at the address provided herein for
receipt of notices. Debtor so served shall appear or answer to such summons,
complaint or other process within thirty days after the mailing thereof. Should
Debtor so served fail to appear or answer within said thirty-day period, Debtor
shall be deemed in default and judgment may be entered by Secured Party against
Debtor for the amount or such other relief as may be demanded in any summons,
complaint or other process so served. In the alternative, in its discretion
Secured Party may effect service upon Debtor in any other form or manner
permitted by law.
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(i) IN THE EVENT OF ANY LITIGATION RELATING TO THIS AGREEMENT OR THE
OBLIGATIONS, DEBTOR WAIVES ANY AND ALL RIGHTS TO A TRIAL BY JURY.
IN WITNESS WHEREOF, the Debtor has executed this Agreement as of the day
and year first written above.
/s/ [ILLEGIBLE] Puro Water Group, Inc.
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Witness:
By: /s/ Xxxx X. Xxxx
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Name: Xxxx X. Xxxx
Title: PRESIDENT
Borrower's Address:
00-00 00xx Xxxxxx
Xxxxxxx, XX 00000
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SCHEDULE I
TO
GENERAL SECURITY AGREEMENT
Offices Where Records Are Kept:
00-00 00xx Xxxxxx
Xxxxxxx, XX 00000
Other Locations Where Collateral
Is Stored, Used or Located:
000 Xxxxx Xxxx Xx.
Xxxx Xxxxxx, XX 00000
Business and Trade Names
Used by Debtor:
N/A
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SCHEDULE A TO GENERAL SECURITY AGREEMENT DATED 7/31, 1996
All personal property of Debtor, now owned and hereafter acquired, of every kind
and description, including, without limitation, all inventory, equipment,
fixtures, accounts, chattel paper, contract rights, instruments, documents and
general intangibles, and all products and proceeds thereof.
Puro Water Group, Inc.
By: /s/ Xxxx X. Xxxx
------------------------
Name: Xxxx X. Xxxx
Title: PRESIDENT
Witnessed By: [ILLEGIBLE]
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