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<br />4. Debtor shall keep, store or regularly garage all Collateral at locations approved by Secured Party in writing.
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<br />5. Debtor shall not conduct business under any other name than that given above nor change or reorganize the
<br />type of business entity under which it does business except upon prior written approval of Secured Party. If
<br />such approval is given, Debt~r guarantees ~at all documents, instruments and agreement.s demao~ed by Secured
<br />Party shall be prepared ana f.tea at Debtor s expense before such change of name or buslOes8 enhty occors.
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<br />6. Debtor eha!! pay the filing. an~'recording costs of any documents or instruments necess~ry to perfect, extend,
<br />modify, or tennlnate the security Interest created hereunder, as demanded by Secured Party. . . ,
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<br />1. Debtor shalt maintain all Collateral in good condition, pay pr~mptly all taxes, judgm~nts, or changes of any ,
<br />'kind levied or assessed theron, keep current all rent due on premises where Collateral is located, and maintain
<br />insurance on all Collateral against such hazards, in. such amounts and with such companies as Secured Party
<br />may demand, all such insurance policies to be in the possession of Secured Party and to contain a Lender's
<br />Loss Payable Clause naming Secured Party in a manner satisfactory to Secured Party. Debtor hereby assigns
<br />to Secured Party any proceeds of such policies and all unearned premiums thereon, and authorizes and
<br />empowers Secured Party to collect such sums and to execute and endorse in Debtor's name all proofs of loss
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<br />drafts, checks and any other documents necessary to accomplish such collections, and any persons or entities
<br />making payments to Secured Party under the terms of this Paragraph are hereby relieved absolutely from any
<br />obligation to see to the application of any sums so paid. .
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<br />8. Debtor shall be in default hereunder if Debtor fails to perform any of the liabilities imposed hereby or any
<br />otber obligation required by the various instruments or papers evidencing or sec"uriDg this loan, or if the full
<br />balance of the loan becomes immediately payable under the tenns of such instnzments, either automatically
<br />or by declaration of the Secured Party. In the event of any default, Secured Party may,. in its own discretion,
<br />cure such default and, if it does so, any expenditures made for such purp~se shall be added to the principal
<br />of the Note. .
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<br />9. In the event of default, Debtor shall assemble and make available all Collateral at any place designated
<br />by .Secured Party. Debtor ackl:1owledges being advised of a constitutional right to a court notice and hearing
<br />to detennine whether, upon default, there is probable cause to sustain the validity of the Secured Party's
<br />claim and whether the Secured Party is entitled to possession of the Collateral and being so advised, Debtor
<br />hereby volu~tarily gives up, waives and surrenders any right to a notice and hearing to determine wh ether
<br />there is probable cause to sustain the validity of Secured Party's claim. Any notices required pursuant -to
<br />any state or local iaw shall be deemed reasonable if mailed by Secured Party to the perions entitled thereto
<br />at their last known addresses at least ten days prior to disposition of the Collateral, and, in reference to a
<br />private sale, need state only that Secured Party intends to negotiate such a sale. Disposition of Collateral
<br />shall be deemed com"mercially reasonable if made pursuant to a public offering advertised at least twice in
<br />a newspaper of general circulati~n in the community where the Collateral is located or by a private sale
<br />for a sum equal to or in excess of the liquidation value of the Collateral as determined by Secured Party.
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<br />10. All rights conferred on Secured Party hereby are in addition to those granted to it by any ,state or
<br />local law or any other law. Failure or repeated failure to enforce any rights hereunder 'shaIl not constitute
<br />an estoppel or waiver of Secured Party's rights to exercise such rights accruing prior or subsequent thereto.
<br />Secured Party shall not be liable for any loss to' Collateral in its possession. Dor shall such loss diminish
<br />the debt due, even if the loss is caused or co~tributed to by Secured, Party's negligence.
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<br />IN WITNESS WHEREOF,
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<br />March 27, J.980
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<br />WOLKERSTORFER COMPANY, INC.
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<br />X By Is/ tJ,'(j,UIM. J: WtJlke,. ~i4r~,....
<br />Its Vice President
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<br />GPO 807-11211
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<br />SBA FORM 1059 (1-74)
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<br />Page 2
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