b) Limitation on Borrowings. Outstanding borrowings under the Asset Based Line of Credit, to a maximum of the principal 2.Credit Agreement • March 31st, 1997 • Stratford American Corp • Services-auto rental & leasing (no drivers) • California
7. POWERS OF BANK. Debtor appoints Bank its true attorney in fact to perform any of the following powers, which are coupled with an interest, are irrevocable until termination of this Agreement and may be exercised from time to time by Bank's officers...Security Agreement • March 31st, 1997 • Stratford American Corp • Services-auto rental & leasing (no drivers) • Arizona
5. REPRESENTATIONS AND WARRANTIES. Debtor represents and warrants to Bank that: (a) Debtor is the owner and has possession or control of the Collateral and Proceeds; (b) Debtor has the right to pledge the Collateral and Proceeds; (c) all Collateral...Pledge Agreement • March 31st, 1997 • Stratford American Corp • Services-auto rental & leasing (no drivers) • Arizona
By: /s/ Mel L. Shultz ---------------------------------------- Mel L. Shultz, President 2 EXHIBIT A TO UNIFORM COMMERCIAL CODE SUBORDINATION AGREEMENTSubordination Agreement • March 31st, 1997 • Stratford American Corp • Services-auto rental & leasing (no drivers)
REVOLVING LINE OF CREDIT NOTERevolving Line of Credit Note • March 31st, 1997 • Stratford American Corp • Services-auto rental & leasing (no drivers) • Arizona
6. CONTINUING EFFECT. This Agreement shall constitute a continuing agreement of subordination, and the Bank may, without notice to or consent by the Creditor, modify any term of the Senior Debt in reliance upon this Agreement. Without limiting the...Subordination and Standstill Agreement • March 31st, 1997 • Stratford American Corp • Services-auto rental & leasing (no drivers) • California
a) Debtor Agrees in General: (i) to pay Indebtedness secured hereby when due; (ii) to indemnify Bank against all losses, claims, demands, liabilities and expenses of every kind caused by property subject hereto; (iii) to pay all costs and expenses,...Continuing Security Agreement • March 31st, 1997 • Stratford American Corp • Services-auto rental & leasing (no drivers) • Arizona
