Common use of OWNERSHIP AND DUTIES TOWARD PROPERTY Clause in Contracts

OWNERSHIP AND DUTIES TOWARD PROPERTY. Unless a co-owner(s) of the Property signed a third party agreement, I represent that I own all the Property. I will defend the Property against any other claim. I agree to do whatever you require to perfect your interest and keep your priority. I will not do anything to harm your position. I will keep the Property in my possession (except if pledged and deliver to you). I will keep it in good repair and use it only for its intended purposes. I will keep it at my address unless we agree otherwise in writing. I will not try to sell or transfer the Property, or permit the Property to become attached to any real estate, without your written consent. I will pay all taxes and charges on the Property as they become due. I will inform you of any loss or damage to the Property. You have the right of reasonable access in order to inspect the Property. INSURANCE - If required, I agree to buy insurance on the Property against the risks and for the amounts you require. I will name you as loss payee on any such policy. You may require added security on this loan if you agree that insurance proceeds may be used to repair or replace the Property. I agree that if the insurance proceeds do not cover the amount I still owe you, I will pay the difference. If I buy the required insurance (rather than furnishing it through existing policies that I own or control) I will buy it from a company that is authorized to do business in Texas. I will keep the insurance until all debts secured by this agreement are paid. DEFAULT AND REMEDIES - If I am in default, in addition to the remedies listed in the note portion of this document, you may (after giving notice and waiting a period of time, if required by law):

OWNERSHIP AND DUTIES TOWARD PROPERTY. Unless a co-owner(s) of the Property signed a third party agreement, I represent that I own all of the Property, or to the extent this is a purchase money security interest I will acquire ownership of the Property with the proceeds of the loan. I will defend the Property it against any other claim. Your claim to the Property is ahead of the claims of any other creditor. I agree to do whatever you require to perfect protect your security interest and to keep your priorityclaim in the Property ahead of the claims of other creditors. I will not do anything to harm your position. I will not use the Property for a purpose that will violate any laws or subject the Property to forfeiture or seizure. I will keep books, records and accounts about the Property and my business in general. I will let you examine these records at any reasonable time. I will prepare any report or accounting you request, which deals with the Property. I will keep the Property in my possession (except if pledged and deliver to you). I will keep it in good repair and use it only for its intended purposesthe purpose(s) described on page 1 of this agreement. I will not change this specified use without your express written permission. I represent that I am the original owner of the Property and, if I am not, that I have provided you with a list of prior owners of the Property. I will keep it the Property at my address listed on page 1 of this agreement, unless we agree otherwise I may keep it at another location. If the Property is to be used in writinganother state, I will give you a list of those states. I will not try to sell the Property unless it is inventory or transfer I receive your written permission to do so. If I sell the PropertyProperty I will have the payment made payable to the order of you and me. You may demand immediate payment of the debt(s) if the debtor is not a natural person and without your prior written consent; (1) a beneficial interest in the debtor is sold or transferred, or permit (2) there is a change in either the Property to become attached to any real estateidentity or number of members of a partnership, without your written consentor (3) there is a change in ownership of more than 25 percent of the voting stock of a corporation. I will pay all taxes and charges on the Property as they become due. I will inform you of any loss or damage to the Property. You have the right of reasonable access in order to inspect the Property. INSURANCE - If required, I agree to buy insurance on the Property against the risks and for the amounts you require. I will name immediately inform you as of any loss payee on any such policy. You may require added security on this loan if you agree that insurance proceeds may be used or damage to repair or replace the Property. I agree that if the insurance proceeds do not cover the amount I still owe you, I will pay the difference. If I buy the required insurance (rather than furnishing it through existing policies that I own fail to perform any of my duties under this security agreement, or control) I will buy it from a company that is authorized to do business in Texas. I will keep the insurance until all debts secured by this agreement are paid. DEFAULT AND REMEDIES - If I am in defaultany mortgage, in addition to the remedies listed in the note portion deed of this documenttrust, lien or other security interest, you may (after giving without notice to me perform the duties or cause them to be performed. Your right to perform for me shall not create an obligation to perform and waiting a period your failure to perform will not preclude you from exercising any of time, if required by law):your other rights under the law or this security agreement.

OWNERSHIP AND DUTIES TOWARD PROPERTY. Unless a co-owner(s) of the Property signed a third party agreement, I represent that I own all the Property. I will defend the Property against any other claim. I agree to do whatever you require to perfect your interest Interest and keep your priority. I will not do anything to harm your position. I will keep the Property in my possession (except if pledged and deliver delivered to you). I will keep it in good repair and use it only for its intended purposes. I will keep it at my address unless we agree otherwise in writing. I will not try to sell or transfer the Property, or permit the Property to become attached to any real estate, without your written consent. I will pay all taxes and charges on the Property as they become due. I will inform you of any loss or damage to the Property. You have the right of reasonable access in order to inspect the Property. INSURANCE - If required, I agree to buy insurance on the Property against the risks and for the amounts you require. I will name you as loss payee on any such policy. You may require added security on this loan if you agree that insurance proceeds may be used to repair or replace the Property. I agree that if the insurance proceeds do not cover the amount amounts I still owe you, I will pay the difference. If I buy the required insurance (rather than furnishing it through existing policies that I own or control) I will buy it the insurance from a company that is firm authorized to do business in TexasIllinois. The firm will be reasonably acceptable to you. I will keep the insurance until all debts secured by this agreement are paidaid. COLLATERAL PROTECTION INSURANCE NOTICE - Unless I provide you with evidence of the insurance coverage required by my agreement with you, you may purchase Insurance at my expense to protect your interests In my collateral. This insurance may, but need not, protect my interests. The coverage that you purchase may not pay any claim that I make or any claim that is made against me in connection with the collateral. I may later cancel any insurance purchased by you, but only after providing you with evidence that I have obtained insurance as required by our agreement. If you purchase insurance for the collateral, I will be responsible for the premiums for that insurance, including interest and any other charges you may impose in connection with the placement of the Insurance, until the effective date of the cancellation or expiration of the insurance. The premiums may be added to my total outstanding balance or obligation. The premiums may be more than the premiums for insurance I may be able to obtain on my own. DEFAULT AND REMEDIES - If I am in default, in addition to the remedies listed in the note portion of this documentdocument and subject to any of the limitations in "REAL ESTATE OR RESIDENCE SECURITY" paragraph, you may (after giving notice and waiting a period of time, if required by law):

OWNERSHIP AND DUTIES TOWARD PROPERTY. Unless a co-owner(s) of the Property signed a third party agreement, I represent that I own all the Property. I will defend the Property against any other claim. I agree to do whatever you require to perfect your interest and keep your priority. I will not do anything to harm your position. I will keep the Property in my possession (except if pledged and deliver delivered to you). I will keep it in good repair and use it only for its intended purposes. I will keep it at my address unless we agree otherwise in writing. I will not try to sell or transfer the Property, or permit the Property to become attached to any real estate, without your written consent. I will pay all taxes and charges on the Property as they become due. I will inform you of any loss or damage to the Property. You have the right of reasonable access in order to inspect the Property. If the Property is a motor vehicle, I represent that it is not a vehicle seized pursuant to any federal, state or local forfeiture law. INSURANCE - If required, I agree to buy insurance on the Property against the risks and for the amounts you require. I will name you as loss payee on any such policy. You may require added security on this loan if you agree that insurance proceeds may be used to repair or replace the Property. I agree that if the insurance proceeds not do not cover the amount amounts I still owe you, I will pay the difference. If I buy the required insurance (rather than furnishing it through existing policies that I own or control) I will buy it the insurance from a company that is firm authorized to do business in TexasOhio. The firm will be reasonably acceptable to you. I will keep the insurance until all debts secured by this agreement are paid. DEFAULT AND REMEDIES - If I am in default, in addition to the remedies listed in the note portion of this document, you may (after giving notice and waiting a period of time, if required by law):.