PURCHASE MONEY SECURITY AGREEMENTPurchase Money Security Agreement • November 18th, 2003 • Quality Products Inc • Wholesale-metals service centers & offices • Ohio
As of November 17, 2003, at Columbus, Ohio, Quality Products, Inc., a Delaware corporation (the “Borrower”), and QPI Multipress, Inc., an Ohio corporation, and Columbus Jack Corporation, an Ohio corporation (collectively the “Guarantors”), enter into this Security Agreement with Dan Drexler, Richard A. Drexler, TTEE, Richard A. Drexler Trust, U/A DTD 9/14/90, Dale S. Drexler, TTEE, Dale S. Drexler Living Trust, U/A/D March 15, 1999, and Jason I. Drexler (“Lenders”).
