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CS_Courthouse Square
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MEMO: Security
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Last modified
9/20/2012 7:42:11 AM
Creation date
8/18/2011 10:11:23 AM
Metadata
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Building
RecordID
10407
Title
MEMO: Security
Company
Marion County
BLDG Date
10/1/1998
Building
Courthouse Square
BLDG Document Type
Committee
Project ID
CS9801 Courthouse Square Construction
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<br />the Collateral, the Obligarions, or the relationship between Debtor and Secured Party; and (3) to <br />protect, collect, lease, sell, take possession of, or liquidate any of the Collateral, to enforce or to <br />attempt to enforce any of Secured Party's rights under this Agreement and to give any advice with <br />respect to such enforcement; however, this definition dces not include any attorney fees incuned <br />by Secured Party in any court proceeding (other than a proceeding under or related to 11 USC <br />§ 101 et seq.) if (a) such fees were incurred in an action by either Secured Party or Debtor against <br />the other and (b) Debtor is the prevailing party in the action. <br />10 . 6 Any notice or notification required, pernutted, or contemplated under this <br />Agreement must be in writing, must be addressed to the party to be notified at the address set forth <br />above or at such other address as each party may designate for itself from time to time by notice <br />hereunder, and will be deemed to have been validly served, given, or delivered (1) five business <br />days after deposit in the United States mails, with first-class postage prepaid, (2) the next business <br />day after such notice was delivered to a regularly scheduled overnight delivery carrier or (3) on <br />receipt of notice given by telecopy, mailgram, telegram, telex, or personal delivery to the party. <br />10. 7 Whenever possible, each provision of this Agreement will be interpreted in a <br />manner as to be effective and valid under applicable law, but if any provision of this Agreement is <br />prohibited by or invalid under applicable law, that provision will be ineffective to the extent of the <br />prohibition or invalidity, without invalidating the remainder of the provision or the remaining <br />provisions of this Agreement. <br />10. 8 This Agreement cannot be changed orally or by the conduct of the parties. Any <br />amendment, modification, or change may be made only by a writing signed by the party against <br />whom enforcement is sought. <br />10 . 9 All Secured Party's rights and remedies, whether evidenced in this Agreement or by <br />any other wridng, shall be cumularive and may be exercised singulazly or concurrently. Election <br />by Secured Party to pursue any remedy shall not exclude pursuit of any other remedy, and an <br />elecdon to make expenditures or take action to perform an obligation of Debtor under this security <br />agreement after failure of Debtor to perform shall not affect Secured Party's right to declare a <br />default and exercise its remedies under Section 7. <br />10.10 In the event this Agreement is placed in the hands of an attorney for enforcement, <br />the party in default agrees to pay the reasonable costs and expenses of enforcing this Agreement, <br />including reasonable attorneys' fees. In the event a suit or act~on is filed to enforce this Agreement <br />or to construe or interpret this Agreement, the prevailing party shall be entitled to recover the <br />reasonable costs and expenses of the suit or action, at trial or upon appeal, including reasonable <br />Attorneys' Fees. In the event suit or action is instituted in a Bankruptcy Court to enforce or <br />interpret any of the terms of this Agreement, to seek relief from an automatic stay, to obtain <br />adequate protection, to determine dischargeability of any debts, or to otherwise assert the interest <br />of the creditor in a bankruptcy proceeding, the debtor shall pay the reasonable costs and expenses <br />incurred by the creditor including reasonable Attorneys' Fees. <br />10.11 Secured Party shall not be deemed to have waived any rights under this Agreement <br />or any other writing signed by Debtor unless such waiver be in writing and signed by Secured <br />Party. No delay or omission on the part of Secured Party shall operate as a waiver of such right or <br />any other right. A waiver by any paRy of a breach of a provision of this Agreement shall not <br />constitute a waiver or prejudice the party's right otherwise to demand strict compliance with that <br />provision or any other provision. <br />Security Agreement <br />Page - 7 <br />
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