Fill and Sign the Security Agreement Form

- 1 - INSTALLMENT PROMISSORY NOTE AND SECURITY AGREEMENT DATE: ___________________FOR VALUE RECEIVED, the undersigned, Promises to pay to the order of _______________________, "Lender", the sum of __________________________ together with interest thereon at the rate of __________ per centum per annum from date payable, in monthly installments of ______________ until paid or, on demand, the first installment to be paid on the _____ day of _____________, 20____, and each additional installment to be paid on the same day of each succeeding month thereafter until the principal sum and all accrued interest have been paid in full.If default is made in the payment of any installment specified herein, or any part thereof, and such default shall continue for a period of 10 days, then the holder hereof, may, at its option, declare the whole sum then remaining unpaid immediately due and payable. In case of any such default, the undersigned agrees to pay all costs of collection, including a reasonable attorneys fees, whether or not suit is instituted.Presentment for payment, demand, notice of dishonor, protest, notice of protest and any homestead or personal property exemption allowed by the constitutions or laws of any state are hereby waived by the undersigned. Failure by the holder hereof to exercise any option granted it hereunder shall not constitute a waiver of future rights. The term "undersigned" as used herein shall include all makers, co-makers, endorsers, sureties and guarantors hereof.As security for the Loan, the Borrower does hereby grant, pledge, transfer, sell, assign, convey and deliver to the Lender, and do grant to the Lender a security interest in, all of the right, title and interest of such Borrowers, in, to and under the following (hereinafter collectively referred to as the "Collateral"): ___________________________________________________________________________In the event of Default under this agreement, the Lender shall have, in addition to any other rights under this agreement or under applicable law, the right without notice to the Borrower to take any or all of the following actions at the same or at different times: (a) to collect all Collateral in the Borrowers' name and take control of any cash or non-cash proceeds of Collateral; (b) to enforce payment of any Collateral, to prosecute any action or proceeding with - 2 - respect to the Collateral, to extend the time of payment of any and all Collateral, to make allowance and adjustments with respect thereto and to issue credits in the name of the Borrower; (c) to settle, compromise, extend, renew, release, terminate or discharge, in whole or in part, any Collateral or deal with the same as the Lender may deem advisable; (d) without notice or advertisement, to sell, assign and deliver the Collateral or any other property held by the Lender, at public or private sale, for cash, upon credit or otherwise at the sole option and discretion of Lender and to bid or become purchaser at any such sale; and (e) to exercise, in addition to all other rights and remedies of a Lender upon default under the Uniform Commercial Code adopted by the State of ___________________. The net cash proceeds resulting from the exercise of any of the foregoing rights, after deducting all charges, expenses, cost and attorneys' fees relating thereto, including any and all costs and expenses incurred in securing the possession of Collateral and preparing the same for sale, shall be applied by the Lender to the payment of the Liabilities, whether due or to become due, in such order and in such proportions as the Lender may elect, and Borrower shall remain liable to the Lender for any deficiency._____________________________________________________________________________________ - Borrower