HomeMy WebLinkAbout94-06489
RESTAURANT EQUIPMENT INC.
~980 JEFFERSON Sf. PO BOX 2223
HARRISBURG. PENNSVLVANIA. 1710:)
PHONE 1717) 238-121'-
PA lSOOI 882.7402
FAX ("7) 238.3751
SF.CUllIn- AGREEMEi'IT
n.lJs AGRiTMENT. Mad~ Ihi~ ~bdJY ufJov{>mb{.r
,199-1, h)' and hctwan United Re~I[lUranl Equipn\l.:nt,
Ine" hcrcinnlier ..:alh:J Cr~djlor. ,101.1 E.~nn--1ti..Llo T nc. nnA n i 11111 <; ",,11 rnnm hucinafier l:all.:J Oeblor;
WHEREAS, the D~hlur. ,uncumnlly wilh the c'~culilln Jnd ddhcry uf this Aglc~menl, is be,oming indebted 10 the Cn:dilor In
the: amounl ot 1---11.. 000. on ; and
WHEREAS.lh: lkhlllr ,,ksircs 10 cnler inln lhis ..\grcemcnl fur the purpme nf creating n 5ccuril)' interest in favor oCthe
Cr~dilllr in the gOI'lh and cha,,~'h df',.rihrd in Itlt" ~,hetlll1c herein allachr:d. rn:ui..ed ~S,h,du1e A" and made a pan hereur; llnd
\\'HERE"S,'3id~\wl,haod~halld$areoll.....ur.....illh...hl\;aleda1 201 EllSL G1:..c...c.n StrpPI, Mp('htlni('~hllrgt
NOW. l1IEHEFOHJ:, TillS J\(jHEI;~tENT WI'I'NI:SSETH.lhal Dehlor. in mder 10 secure:
(I) lh~ pa)'mcnlof the dehl evidencc=d ~)' said onlc.
(J) All cmh and e'p~mes in/.1me.) in Ihe culkcthm oflhe same, induding Ihe allomey fee and commiuion therein pfo\'lded
far,
(3) All future advances and experll.lilurc:s marJ~ by the Crewlur for any renu, l3Xes. levies, auessmenls, charges. insurance,
repllin. mainlenance or prolccllon on or of Ihe gouds and cilallels described on Schedule A hertof,
ur-rrn. debult hereunJ...r. lXhlor shall he enlillc:d 10 p'15scssion of Ihe ~oods and chllllels and 10 use: and enjo)' Ihe same,
THE DEDTOR warmnls and 3p.reel Ihat:
1. The gouds and chauds arc nol now and will nol ht: so af[ixed or rd31ed 10 r('311Y as to he II p3CIthereof,
1. The goods and l:hallds .ue or ....ill he o.....ned b)'lhe Oc=htllr and tire nol suhjecllo any securil)' inleresl uceplthat trealed by
lhis Agreement. vr to an)' liens orencumbrarl"es. and Ihe Deblor.....ill defend Ihe gnods and chll1ldl a1!ainslthe daiml:md demands of all
pcnofU,
3, Dehlor .....ill nul seU. e:u:hange or ka..e. mOnS3!!e. encum~r or pkdfl':. conceal. remo\"(~ or olherv.ise dispoioC of Ihe goods
and chAnels. or create an)' 1CL:ur1I)' inlerC5tlherein (excepl L:n:aled b)' this A!;reemcnt). or allempllo do 10 \\ithoullhe prior wrillen
consent of Ihe Credilor,
~, Deblor.....ilI care ror and maintain Ihe 1l-')lK1S and "hauds in a good, carefuhmd husband like com.lition. manner 3nd repair.
reasonable wear and le.lT excepted. and ....ill pay and wSl.:h.ugc allllUCs,le\'ies and olher impo~ilions lo.:\lcd Ihereun as \l,'cU as thc "!.Hl -:of
repairs to or maintenance uflhe samc, If Deblar fai!5lo pay sUl:h sunu, Credilor mny do 10 for [kblor', .account. adding the amoun1
thereof 10 the debl secured hereby,
~, DeblOr ....ill insure the ~o()ds against !onch rida and c:lSuahies Dnd in su"h .amounts a..\ Creditor Ihall fe4uire, and shall pay
all premiums Ihcrdore, A.II insurant: policics ,hall he \\ rillcn for the htoMlit of Deblur :tnd Credilur as their inlerest may appear, and luch
poUdcs or cc:nifiL::1Ics e\-idcndnfllhe same IhNlhI: furnished 11,1 Credilor. If Deblor fails 10 pay the premium on any luch insurance.
Credilor ma)' do sv ror Debtor's ",c,ounl, adding the amounl Ihen:ofllllhe debl !Iecurcd herehy [)tblllr hereh)' a!lignsto Creditor any
relurn or unearned premiums .....hid may be due upon cam:dlation of 3n)' such policies for any reason \\ hat5oe\'er and directs the insureR
to pay Creditor llny amounts so due, Creditor is heleh)' arr\linh:d Deblor's 311ome)'.in.faL:IIO endone an)' drafl or check. .....hich mil)' be
paYBble 10 deblor in order Illl;ullect ~uch return or un~Jmcd premiums or the pmcc:eds or such inmrallce: any bnhnce ofinsurunce
rro..:eeds lcmaining afw r3~rnent in full llf J..ll JlllOunls sc..:ur..J h..:reunJ!:r shall to.... paid In Dchll1r,
6, OeblUr \10 III n!.ll p....l'TTlit any nrlhc l11l(ld~ \(l be r....l1\1}vcd from th.... liH:Jlion spedlic=d ahove \l,ilhuUllhe prior wrinen conleN of
Credilor. llnd ....ill rcmlL1 Cw.1ilur In inSjlC'llhe gllllJ~ .lnd dl<lllo:l:- :1I11n)' lime.
7, Dchlnf"it! nul permil any tllhL'r SeCllnl) inlcfl"slltl allJ,h In an)" of Ill.... ~ollds; rennil the ~(lIlds In ~ Ic\'ied upon under Dny
legal process; Of p!:nnil ;!,nylhing III bc dllllC th,,1 milY 1I11pair Ih.... \',UUC of an)' {1(lh.... goods and chaneh or lhe: st,urilY inlendcd 10 be
afforded h)' lhis I\gll:cm~nt.
. FOOO SERVICE [OUIP",,'" FUN FOOD SYSTE"S' ICE SYSTEMS. CHEMICAL SYSTEMS
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