Security Agreement

Security agreement.

Please state the name of secured party [CREDITOR], referred to herein as SECURED PARTY, and Please state the name of the debtor [BORROWER], referred to as DEBTOR, agree:

Please state the name of the debtor [BORROWER], DEBTOR, grants a security interest in the following property to Please state the name of secured party [CREDITOR], SECURED PARTY: Include the following if this is a: Standard security agreement

This security agreement is made to secure an indebtedness of Please state the name of the debtor [BORROWER] to Please state the name of secured party [CREDITOR], described as follows:

State the reason for debt, in the original principal amount of $ State the original principal amount of debt, (State the original principal amount of debt Dollars) dated State the date of execution of the underlying agreement Include the following if this is a: Hypothecation by third party

The security interest granted herein is given to secure the indebtedness of State the name of the third party debtor to Please state the name of secured party [CREDITOR], for State the reason for debt, in the original principal amount of $ State the original principal amount of debt (State the original principal amount of debt Dollars), dated State the original date of execution of agreement. Please state the name of the debtor [BORROWER] does not agree to pay the indebtedness of State the name of the third party debtor, however, the collateral provided herein shall be liable to the remedies provided in the Uniform Commercial Code, for secured parties. In addition should any expenditures be made by SECURED PARTY for insurance or to otherwise protect the collateral the same shall be secured by this agreement.

This security interest is also given to secure any other debts which may be owed by Please state the name of the debtor [BORROWER] to Please state the name of secured party [CREDITOR] from time to time. Include the following if this security agreement will be: A first lien

DEBTOR warrants to SECURED PARTY that the property in which a security interest is granted is subject to no other liens, charges or encumbrances and that there are no financing statements or other lien notices on file regarding debtor that might create a lien on the property secured herein. Include the following if this security agreement will be: A junior lien

DEBTOR warrants to SECURED PARTY that the property in which a security interest is granted is subject to no other liens, charges or encumbrances and that there are no financing statements on file regarding debtor that might create a lien on the property secured herein other than those stated herein:

Please state the nature of senior liens

The total of said lien(s) as of the date of the execution of this agreement does not exceed $ Please state the total of junior liens (Please state the total of junior liens dollars).

DEBTOR shall maintain the collateral in good repair, ordinary wear and tear excepted, and shall insure the same for its full value. DEBTOR shall provide to secured party certificates of insurance. SECURED PARTY shall be named as a loss payee on a long form standard loss payable clause. Should DEBTOR fail to maintain such coverage, SECURED PARTY may obtain the same and DEBTOR shall pay SECURED PARTY for the same, together with interest at the highest legal rate on the amounts advanced by the SECURED PARTY.

Upon default, as is defined herein, SECURED PARTY shall have all of the rights given to a secured party under the Uniform Commercial Code, Article 9.

Default shall be defined as:

1. Any failure to comply with any covenant of the indebtedness secured by this agreement, including but not limited to a failure to timely pay as provided;

2. The entry of a judgment, tax lien or other charge against the DEBTOR which is not satisfied or superseded within thirty days of inception;

3. Such other commercially reasonably reason that leads SECURED PARTY to believe that its security is in peril.

DEBTOR shall execute any and all financing statements or other documents which are requested by SECURED PARTY and which SECURED PARTY determines is necessary to perfect SECURED PARTY'S LIEN.

DEBTOR appoints SECURED PARTY agent as its agent to file and any all financing statements which may be necessary or required to perfect SECURED PARTY's security interest, and DEBTOR authorizes SECURED PARTY to execute the same for DEBTOR.

This document represents the entire agreement between the parties, and there are no agreements or representations which are not stated herein. This agreement may not be modified unless it is in writing and signed by both parties.

Dated: ________________________

For Please state the name of secured party [CREDITOR], SECURED PARTY:

________________________________________________________________

For Please state the name of the debtor [BORROWER], DEBTOR:

________________________________________________________________

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