UCC Financing Statement Template

UCC FINANCING STATEMENT (TEMPLATE)

This Financing Statement (the "Statement") is entered into by and among Debtor Name: and Secured Party Name: . Execution Date: .

RECITALS

WHEREAS, Debtor desires to grant to Secured Party a continuing security interest in certain collateral to secure the prompt payment and performance of Obligations; and

WHEREAS, Secured Party is willing to accept such security interest upon the terms and conditions set forth in this Statement; and

WHEREAS, the parties intend that this Statement provide the basis for a financing statement to be filed under the Uniform Commercial Code for the purpose of perfecting Secured Party's security interest in the Collateral.

NOW THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties agree as follows:

1. GRANT OF SECURITY INTEREST

Debtor hereby grants to Secured Party a continuing security interest in all of Debtor's right, title and interest in, to and under the collateral described in Section 2 below (the "Collateral") to secure payment and performance of all obligations, liabilities and indebtedness of Debtor to Secured Party whether now existing or hereafter arising (collectively, the "Obligations").

2. DESCRIPTION OF COLLATERAL

The Collateral includes all of Debtor's present and after-acquired personal property, including without limitation the following described property:

The foregoing description is intended to cover goods, accounts, chattel paper, general intangibles, instruments, investment property, commercial tort claims, accessions, and proceeds of any of the foregoing, whether now owned or hereafter acquired, and any and all accessions, attachments, rents, issues and profits of the Collateral.

3. DEBTOR INFORMATION

Debtor Type: Individual Organization

4. SECURED PARTY INFORMATION

5. FINANCING STATEMENT; FILING; PERFECTION

Debtor authorizes Secured Party to file one or more financing statements under the Uniform Commercial Code in the jurisdictions and filing offices in which Secured Party determines filing is necessary or desirable to perfect or continue the perfection of the security interest granted hereunder. Debtor warrants that the information provided in any financing statement filed pursuant to this authorization will be true and correct as of the date of filing.

Filing Type: Initial Financing Statement Amendment Continuation Termination

6. DEBTOR REPRESENTATIONS AND WARRANTIES

Debtor represents and warrants that (a) Debtor has the power and authority to grant the security interest described herein; (b) no other security interest exists in the Collateral that has priority over the security interest granted herein except as disclosed to Secured Party in writing; and (c) no financing statement or other instrument filed against the Collateral contains a statement that conflicts with the information provided by Debtor.

7. DEFAULT; REMEDIES

Upon the occurrence of an Event of Default (including but not limited to failure to pay the Obligations when due, insolvency or breach of any material representation), Secured Party shall have all rights and remedies of a secured party under the Uniform Commercial Code, including taking possession of the Collateral, disposing of the Collateral, and applying proceeds to the Obligations. Debtor agrees that Secured Party may take any action permitted by law without liability for any error of judgment.

8. NOTICES

All notices required or permitted under this Statement shall be in writing and shall be delivered by hand, nationally recognized overnight carrier, or certified mail, return receipt requested, to the addresses set forth above or to such other address as either party may designate by written notice.

9. AMENDMENTS; TERMINATION

This Statement may be amended, supplemented or terminated only by a written instrument signed by the party against whom enforcement is sought. Secured Party may file amendments, continuations or terminations of any financing statement filed pursuant to this authorization as Secured Party deems necessary to protect its interest.

10. GOVERNING LAW; MISCELLANEOUS

Governing Law: This Statement shall be governed by and construed in accordance with the laws of the state selected by the Secured Party in any financing statement filed hereunder, except to the extent preempted by federal law.

Entire Agreement: This Statement, together with any financing statement filed pursuant hereto, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings.

Severability: If any provision of this Statement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

Counterparts; Electronic Signatures: This Statement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Signatures transmitted by electronic means shall be binding for all purposes.

11. AUTHORIZATION TO FILE

Debtor expressly authorizes Secured Party to file one or more UCC-1 financing statements, amendments, continuations and termination statements necessary to perfect and maintain the security interest created by this Statement. Debtor consents to the disclosure of any information contained herein to any filing office, registry or other third party as required to effect such filings.

SIGNATURES

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