SECURITY AGREEMENT
Exhibit 10.11
This Security Agreement is executed at 00000 X. Xxxxxxx Xxxx., Xxxxx 0000, Xxx Xxxxxxx, XX 00000 by The
Xxxxxx X. and Xxxxxxxx X. Xxxxxxxx Trust (herein called “Debtor”);
OWNER(S) OF COLLATERAL
As security for the payment and performance of all of Debtor’s obligations to Advanced Engine Technologies, Inc. (herein
called “AET”), irrespective of the manner in which or the time at which such obligations arose or shall arise, and whether direct or indirect, alone or with others, absolute or contingent, Debtor does hereby grant a continuing security
interest in the personal property of Debtor, whether now or hereafter owned or in existence and all proceeds thereof (herein called “Collateral”), which Collateral is described as:
All personal property assets owned in whole or in part by Debtor, wherever located.
| THE XXXXXX X. AND XXXXXXXX X. XXXXXXXX TRUST | ||
| By: |
/s/ XXXXXX X. XXXXXXXX
| |
| Its: |
Trustee | |
