COLLATERAL SCHEDULE NO. 1
Exhibit 10.3
COLLATERAL SCHEDULE NO. 1
This Collateral Schedule No. 1 dated as of December 29, 2010 (this “Collateral Schedule”) is between Stellaris LLC, a Nevada limited liability company (together with its successors and assigns, “Borrower”), and RBS ASSET FINANCE, INC., a New York corporation (together with its successors and assigns, “Lender”), and is executed in connection with the Loan Agreement dated as of December 29, 2010 (the “Loan Agreement”) between Borrower and Lender and the Note dated as of December 29, 2010 (the “Related Note”) executed by Borrower in favor of Lender, to which this Collateral Schedule is attached. Capitalized terms used in this Collateral Schedule but not defined herein shall have the meaning ascribed to such terms in the Loan Agreement.
Borrower agrees the Collateral set forth in the attached Exhibit A, which is incorporated herein, is given to secure the payment and performance of all Obligations and all other obligations of Borrower to Lender under any other instrument or agreement, and any renewals, extensions and modifications thereof or thereto; provided, however, that in the event that Lender assigns the Related Note, (a) the related Loan shall be deemed a separate loan that includes and incorporates each term and condition in the Loan Agreement and the other Loan Documents related thereto, (ii) the term “Obligations” as used in the Loan Agreement and the other Loan Documents with respect to any assignee shall mean only the obligations evidenced by or related to the Notes held by the assignee and (iii) the term Collateral as used in the Loan Agreement and the other Loan Documents with respect to such assignee shall mean only the Collateral described on the Collateral Schedules that specifically refer to the Notes held by such assignee.
Borrower hereby certifies that the description of the Collateral set forth in the attached Exhibit A is accurate, complete and reasonably identifies the Collateral for UCC purposes. Such Collateral shall be located at the following address:
See Schedule 1
Borrower will provide prior written notice to Lender of the relocation of the Collateral or any portion thereof.
Notwithstanding anything to the contrary in the Loan Documents, Borrower may with Lender’s prior written consent, substitute any item of Collateral, for another item of “Like Collateral”, which is defined as the same type of equipment as the Collateral, has the same or greater value than the Collateral which is being substituted for (as determined by Lender) and is in the condition required under the Loan Documents. Further, the Like Collateral (i) must be owned by the Borrower, free and clear of all liens, claims and encumbrances; (ii) will be subject to a Lien in favor of Lender; and (iii) upon transfer will be considered Collateral under the Loan Documents. Borrower agrees to pay all cost and expenses associated with the substitution of Collateral, including without limitation titling, fees, UCC search fees and/or UCC filing fees. Upon the substitution of Collateral in accordance with this paragraph, Lender will take all actions necessary to terminate its Lien with respect to the Collateral being substituted at Borrower’s sole cost and expense.
Borrower hereby represents and warrants that as of the Closing Date for the Related Note, the Collateral set forth in the attached Exhibit A has been delivered and completely installed, is in good order and operating condition and is in all respects fit and satisfactory for the uses for which it is intended, and Borrower has finally and unconditionally accepted such Collateral.
[REMAINDER INTENTIONALLY BLANK; EXECUTION PAGE FOLLOWS]
IN WITNESS WHEREOF, Borrower and Lender hereto have caused this Collateral Schedule to be executed by their respective officers thereunto duly authorized as of the day and year first above written.
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BORROWER: |
STELLARIS LLC | |
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By: |
/s/ X. Xxxxxxxx |
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Name: |
X. Xxxxxxxx |
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Title: |
Senior Vice President |
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LENDER: |
RBS ASSET FINANCE, INC. | |
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By: |
/s/ Xxxxxxx Xxxxxx |
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Name: |
Xxxxxxx Xxxxxx |
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Title: |
Sr. Vice President |
[EXECUTION PAGE OF COLLATERAL SCHEDULE NO. 1]
EXHIBIT A
DESCRIPTION OF COLLATERAL
The Collateral described on this Collateral Schedule consists of all of Borrower’s right, title and interest, if any, in and to (i) the equipment described on Schedule 1 attached hereto and made part hereof, (ii) all general intangibles relating thereto, (iii) any and all accessories, attachments, parts, equipment and repairs now or hereafter attached or affixed to any of the foregoing property, (iv) all additions, upgrades and accessions to any of the foregoing property, (v) all documents relating to any of the foregoing property, (vi) all replacements and substitutions for any of the foregoing property, (vii) all accounts, chattel paper and general intangibles arising out of the sale, transfer or other disposition of any of the foregoing property, (viii) all of Borrower’s rights to receive return of any premiums for or proceeds of any insurance, indemnity, warranty or guaranty with respect to any of the foregoing property and (ix) all products and proceeds of any of the foregoing property.
Exhibit A
Schedule 1
Description of Collateral
|
ID |
|
DESCRIPTION |
|
SERIAL NUMBER |
|
ADDRESS |
|
CITY |
|
STATE |
|
ZIP |
|
Original Sales Price |
| |
|
232024 |
|
08 XXXXXX PRO LOWBED TRAILER |
|
0X0X0000X0X000000 |
|
00000 Xxxxxx Xxxxx |
|
Xxxx Xxxxxx |
|
XX |
|
00000 |
|
$ |
57,145.70 |
|
|
301009 |
|
05 CAT D8T MS DOZER WINCH |
|
KPZ00864 |
|
00000 X. Xxxxxxx Xxxxxx Xx. |
|
Xxxxxxx |
|
XX |
|
00000 |
|
$ |
248,459.55 |
|
|
301010 |
|
06 CAT D8T MS DOZER WINCH |
|
KPZ01397 |
|
00000 X. Xxxxxxx Xxxxxx Xx. |
|
Xxxxxxx |
|
XX |
|
00000 |
|
$ |
273,305.51 |
|
|
302015 |
|
06 CAT D6R XL DOZER |
|
GJB00608 |
|
0000 Xxxxxxxx |
|
Xxxx Xxxx |
|
XX |
|
00000 |
|
$ |
273,305.51 |
|
|
302016 |
|
07 CAT D7R XR DOZER WINCH |
|
AGN01545 |
|
Xxxxx Xx |
|
Xxxxxxxxxx |
|
XX |
|
00000 |
|
$ |
173,921.69 |
|
|
302017 |
|
07 CAT D7R XR DOZER WINCH |
|
AGN01546 |
|
Xxxxx Xx |
|
Xxxxxxxxxx |
|
XX |
|
00000 |
|
$ |
173,921.69 |
|
|
322033 |
|
00 XXX 000X XXXXXXXXX |
|
XXX00000 |
|
0000 X Xxxxxxx Xxxxx |
|
Xxxxxxxxxxx |
|
XX |
|
00000 |
|
$ |
183,860.07 |
|
|
322034 |
|
00 XXX 000X XXXXXXXXX |
|
XXX00000 |
|
0000 X Xxxxxxx Xxxxx |
|
Xxxxxxxxxxx |
|
XX |
|
00000 |
|
$ |
183,860.07 |
|
|
322035 |
|
00 XXX 000X XXXXXXXXX |
|
XXX00000 |
|
00000 Xxxxxx Xxxxx |
|
Xxxx Xxxxxx |
|
XX |
|
00000 |
|
$ |
183,860.07 |
|
|
322036 |
|
08 CAT 000X XXXXXXXXX |
|
XXX00000 |
|
Xxxx Xxx & Xxxx X |
|
Xxxx Xxxxx |
|
XX |
|
00000 |
|
$ |
188,829.26 |
|
|
322037 |
|
00 XXX 000X XXXXXXXXX |
|
XXX00000 |
|
00000 Xxx 00 |
|
Xxxxxxx |
|
XX |
|
00000 |
|
$ |
183,860.07 |
|
|
322038 |
|
00 XXX 000X XXXXXXXXX |
|
XXX00000 |
|
0000 X Xxxxxxx Xxxxx |
|
Xxxxxxxxxxx |
|
XX |
|
00000 |
|
$ |
183,860.07 |
|
|
332023 |
|
08 CAT 572R II PIPELAYER |
|
DSC00387 |
|
00000 Xxxxxx Xxxxx |
|
Xxxx Xxxxxx |
|
XX |
|
00000 |
|
$ |
387,596.90 |
|
|
332024 |
|
08 CAT 572R II PIPELAYER |
|
DSC00388 |
|
00000 Xxxxxx Xxxxx |
|
Xxxx Xxxxxx |
|
XX |
|
00000 |
|
$ |
387,596.90 |
|
|
333031 |
|
07 CAT 583T PIPELAYER |
|
CMX00183 |
|
00000 Xxxxxx Xxxxx |
|
Xxxx Xxxxxx |
|
XX |
|
00000 |
|
$ |
427,350.43 |
|
|
333032 |
|
07 CAT 583T PIPELAYER |
|
CMX00184 |
|
00000 Xxxxxxxxx Xxxxxxxx Xx |
|
Xxxxxx |
|
XX |
|
00000 |
|
$ |
427,350.43 |
|
|
333033 |
|
07 CAT 583T PIPELAYER |
|
CMX00189 |
|
00000 Xxxxxx Xxxxx |
|
Xxxx Xxxxxx |
|
XX |
|
00000 |
|
$ |
427,350.43 |
|
|
333034 |
|
07 CAT 583T PIPELAYER |
|
CMX00198 |
|
00000 Xxxxxxxxx Xxxxxxxx Xx |
|
Xxxxxx |
|
XX |
|
00000 |
|
$ |
427,350.43 |
|
|
333035 |
|
07 CAT 583T PIPELAYER |
|
CMX00199 |
|
00000 Xxxxxxxxx Xxxxxxxx Xx |
|
Xxxxxx |
|
XX |
|
00000 |
|
$ |
427,350.43 |
|
|
344008 |
|
07 CAT 587T PIPELAYER |
|
FAT00289 |
|
0000 Xxxxxxxx |
|
Xxxx Xxxx |
|
XX |
|
00000 |
|
$ |
462,134.76 |
|
|
344009 |
|
07 CAT 587T PIPELAYER |
|
FAT00290 |
|
0000 Xxxxxxxx |
|
Xxxx Xxxx |
|
XX |
|
00000 |
|
$ |
462,134.76 |
|
|
361030 |
|
08 CAT 321D LCR EXCAVATOR |
|
XXX0000XXXXX00000 |
|
00000 X Xxxxxxx Xx. |
|
Xxxx |
|
XX |
|
00000 |
|
$ |
81,991.65 |
|
|
363033 |
|
09 CAT 336DL EXCAVATOR |
|
XXX0000XXX0X00000 |
|
000 X. Xxxxx Xxx |
|
Xx Xxxxxx |
|
XX |
|
00000 |
|
$ |
198,767.64 |
|
|
363034 |
|
10 CAT 336DL EXCAVATOR |
|
XXX0000XXX0X00000 |
|
00000 X Xxxxxxx Xx. |
|
Xxxx |
|
XX |
|
00000 |
|
$ |
228,582.79 |
|
|
364009 |
|
09 CAT 345DL EXCAVATOR |
|
XXX0000XXXXX00000 |
|
00000 X Xxxxxxx Xx. |
|
Xxxx |
|
XX |
|
00000 |
|
$ |
231,067.38 |
|
|
392084 |
|
06 CAT 420E BACKHOE W/HYD |
|
XXX0000XXXXX00000 |
|
0000 Xxxxxxx Xx. |
|
Xxxxxxx |
|
XX |
|
00000 |
|
$ |
37,268.93 |
|
|
392085 |
|
06 CAT 420E BACKHOE W/HYD |
|
XXX0000XXXXX00000 |
|
00000 Xxxxxx Xxxxx |
|
Xxxx Xxxxxx |
|
XX |
|
00000 |
|
$ |
37,268.93 |
|
|
392086 |
|
06 CAT 420E BACKHOE W/HYD |
|
XXX0000XXXXX00000 |
|
00000 Xxxxxx |
|
Xxxxxxxx Xxxxx |
|
XX |
|
00000 |
|
$ |
37,268.93 |
|
|
392087 |
|
07 CAT 420E BACKHOE |
|
0HLS03280 |
|
0000 X. Xxxxxxxxxx Xxxx. |
|
Xxx Xxxxxxx |
|
XX |
|
00000 |
|
$ |
42,238.12 |
|
|
392090 |
|
09 CAT 420E BACKHOE 4X4 |
|
OPRA00288 |
|
0000 Xxxxx Xxx |
|
Xxxxxx |
|
XX |
|
00000 |
|
$ |
54,661.10 |
|
|
392091 |
|
09 CAT 420E BACKHOE 4X4 |
|
OPRA00296 |
|
000 Xxxxxxx Xx. |
|
Xx Xxxxxxx |
|
XX |
|
00000 |
|
$ |
54,661.10 |
|
|
392092 |
|
09 CAT 420E BACKHOE 4X4 |
|
0PRA00367 |
|
00000 X Xxxxxxx Xx. |
|
Xxxx |
|
XX |
|
00000 |
|
$ |
54,661.10 |
|
|
392093 |
|
09 CAT 420E BACKHOE 4X4 |
|
0PRA00371 |
|
0000 X. Xxxxxxxx Xx. |
|
Xxxxxxx |
|
XX |
|
00000 |
|
$ |
54,661.10 |
|
|
393007 |
|
08 JD 710J BACKHOE |
|
T0710JX160749 |
|
Xxxxxxx Xx & Xxxxxxxxx Xxxx. |
|
Xxxxxx |
|
XX |
|
00000 |
|
$ |
67,581.00 |
|
|
393008 |
|
09 JD 710J BACKHOE |
|
T0710JX173475 |
|
00000 Xxxxxx Xxxxx |
|
Xxxx Xxxxxx |
|
XX |
|
00000 |
|
$ |
69,568.67 |
|
|
393009 |
|
10 JD 710J BACKHOE |
|
T0710JX174259 |
|
0000 Xxxxxx Xx. |
|
Xxxxxxx |
|
XX |
|
00000 |
|
$ |
79,507.06 |
|
|
461038 |
|
07 CAT CB334E 5-10TON ROLLER |
|
0C3A00490 |
|
00000 Xxxxxx Xxxxx |
|
Xxxx Xxxxxx |
|
XX |
|
00000 |
|
$ |
25,839.79 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
TOTAL |
|
$ |
7,500,000.00 |
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