SECURITY AGREEMENT OWNER OF COLLATERAL: Scientific Industries, Inc. 70 Orville Drive, Bohemia, NY 11716-2547 DESCRIPTION OF COLLATERAL: The undersigned borrower ("Borrower") hereby grants to Capital One, N. A. (the "Bank") a security interest (see...Security Agreement • October 30th, 2008 • Scientific Industries Inc • Laboratory analytical instruments
OBLIGATIONS: The obligations that this agreement is to secure are: 1. The amount of $500,000.00, which amount represents a loan made on even date herewith by the Bank to Borrower, as evidenced by a certain note dated as of even date herewith executed by Borrower promising, among other things, to pay the Bank, together with interest due and extensions and renewals thereof, plus all costs of collection in the event of default, including attorney's fees. 2. Any and all other liabilities of Borrower to the Bank under this agreement. 3. Any and all other liabilities of Borrower to the Bank, direct or indirect, absolute or contingent, present or future, due or to become due. Borrower agrees to promptly pay all obligations when due. STATEMENT OF OWNER: Borrower states and promises that: 1. The Collateral is bought or used primarily for: [ ]Personal, family of household purposes; [ ]Farming operations; [ X ]Business, and, if checked here, [ ]is being acquired with the proceeds of a loan signed
SECURITY AGREEMENTSecurity Agreement • October 30th, 2008 • Scientific Industries Inc • Laboratory analytical instruments
OBLIGATIONS: The obligations that this agreement is to secure are: 1. The amount of $500,000.00, which amount represents a loan made on even date herewith by the Bank to Borrower, as evidenced by a certain note dated as of even date herewith executed by Borrower promising, among other things, to pay the Bank, together with interest due and extensions and renewals thereof, plus all costs of collection in the event of default, including attorney's fees. 2. Any and all other liabilities of Borrower to the Bank under this agreement. 3. Any and all other liabilities of Borrower to the Bank, direct or indirect, absolute or contingent, present or future, due or to become due. Borrower agrees to promptly pay all obligations when due. STATEMENT OF OWNER: Owner states and promises that: 1. The Collateral is bought or used primarily for: [ ]Personal, family of household purposes; [ ]Farming operations; [ X ]Business, and, if checked here, [ ]is being acquired with the proceeds of a loan signed at
CAPITAL ONE, N.A. GUARANTEE OF ALL LIABILITYGuarantee of All Liability • October 30th, 2008 • Scientific Industries Inc • Laboratory analytical instruments
In consideration of advances, loans, extensions of credit, renewals, acquisition of notes and other instruments for payment of money and any security documents relative thereto or conditional contracts of sale, chattel, mortgages, leases and other lien or security instruments, or an interest or participation therein, due to become due, heretofore made to or for account of Scientific Industries, Inc.
Altamira Instruments, Inc. /s/ Helena R. Santos 10/30/08 _______________________Date: ________________ /s/ Robert P. Nichols 10/30/08 ______________________ Date: _________________ I/We acknowledge receipt of a copy of this Security Agreement and...Security Agreement • October 30th, 2008 • Scientific Industries Inc • Laboratory analytical instruments
OBLIGATIONS: The obligations that this agreement is to secure are: 1. The amount of $500,000.00, which amount represents a loan made on even date herewith by the Bank to Borrower, as evidenced by a certain note dated as of even date herewith executed by Borrower promising, among other things, to pay the Bank, together with interest due and extensions and renewals thereof, plus all costs of collection in the event of default, including attorney's fees. 2. Any and all other liabilities of Borrower to the Bank under this agreement. 3. Any and all other liabilities of Borrower to the Bank, direct or indirect, absolute or contingent, present or future, due or to become due. Borrower agrees to promptly pay all obligations when due.
Amended Employment Agreement This Amended Employment Agreement dated as of October 30th, 2008 is agreed to by and between ALTAMIRA INSTRUMENTS, INC, a Delaware corporation (the "Company"), and BROOKMAN P. MARCH, who resides at 105 Cambridge Court,...Employment Agreement • October 30th, 2008 • Scientific Industries Inc • Laboratory analytical instruments • Pennsylvania
