Security Agreement Page 9
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enforcement or foreclosure of this Security Agreement or the sale of the
Collateral or the possession thereof by any purchaser at any sale made
pursuant to any provision hereof; and the Debtor, for Debtor and all who
may claim through or under Debtor now or hereafter, hereby waives the
benefit of all such laws. The Debtor, for the Debtor and all who may claim
through or under Debtor, waives any and all right to have the Collateral
marshaled upon any foreclosure of the lien hereof, or sold in inverse order
of alienation, and agrees that the Secured Party or any court having juris-
diction to foreclose such lien may sell the Collateral as an entirety.
(g) Costs and Expenses. All costs and expenses for retaking, holding, stor-
ing, preparing for sale, selling and documenting such transactions
(including attorneys’ fees) incurred by the Secured Party in protecting
and enforcing its rights hereunder, shall constitute a demand obligation
owing by the Debtor to the Secured Party at the effective rate of interest
of the Note, all of which shall constitute a portion of the Indebtedness.
(h) Operation of Property by the Secured Party. Upon the occurrence of an
event of default and in addition to all other rights herein conferred on the
Secured Party, the Secured Party (or any person, firm or corporation
designated by the Secured Party) shall have the right and power, but
shall not be obligated, to enter upon and take possession of any of the
Collateral, and to exclude the Debtor, and the Debtor’s agents or ser-
vants, wholly therefrom and to hold, use, administer, manage and oper-
ate the same to the extent that the Debtor shall be at the time entitled
and in its place. The Secured Party, or any person, firm or corporation
designated by it, shall have the right to collect, receive and receipt for all
payments with respect to the Collateral or the goods, services produced
and sold from the Collateral, and to exercise every power, right and priv-
ilege of the Debtor with respect to the Collateral.
9. Notification. Any requirement of the Uniform Commercial Code of rea-
sonable notification of the time and place of any public sale, or the time after
which any private sale or other disposition is to be made, shall be met by mailing
to the Debtor at the address shown at the beginning of this Agreement, at least
five days’ prior notice of the time and place of any public sale or the time after
which any private sale or any other intended disposition is to be made. Debtor
shall be and remain liable for any deficiency remaining after applying the pro-
ceeds of disposition of the Collateral as provided in this Security Agreement.
10. No Waiver. The making of this Security Agreement shall not waive or
impair any other security Secured Party may have or hereafter acquire for the
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(Rev. 1, 9/99)
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