Common use of Security Agreement and Financing Statements Clause in Contracts

Security Agreement and Financing Statements. Borrower shall execute, acknowledge and deliver any and all such further conveyances, documents, mortgages and assurances as Standard Federal may reasonably require for accomplishing the purposes hereof, including financing statements required by Standard Federal to protect its interest under the provisions of the Michigan Uniform Commercial Code, as amended, forthwith upon the written request of Standard Federal. Upon any failure of Borrower to do so, Standard Federal may execute, record, file, re-record and refile any and all such documents for and in the name of Borrower, and Borrower hereby irrevocably appoints Standard Federal as agent and attorney-in-fact of Borrower for the foregoing purposes. This instrument is intended by the parties to be, and shall be construed as, a security agreement, as that term is defined and used in Article Nine of the Michigan Uniform Commercial Code, as amended, and shall grant to Standard Federal a security interest in that portion of the Project with respect to which a security interest can be granted under Article Nine of the Michigan Uniform Commercial Code, as amended, which security interest shall include a security interest in all personalty owned by Borrower, whether now owned or subsequently acquired, which is or in the future may be physically located on or affixed to the Project described in Exhibit "A" hereto, regardless of whether such personalty consists of fixtures under Michigan law, a security interest in the proceeds and products of the proceeds of all insurance policies now or hereafter covering all or any part of such collateral. For purposes of Article Nine of the Michigan Uniform Commercial Code, (a) Borrower herein is the "debtor", (b) Standard Federal herein is the "secured party", (c) information concerning the security interest created hereby may be obtained from Standard Federal at its address set forth on page 1 hereof, and (d) Borrower's mailing address is that set forth on page 1 hereof.

Security Agreement and Financing Statements. Borrower (a) Mortgagor and Mortgagee agree: that this Mortgage shall executeconstitute a Security Agreement within the meaning of the Uniform Commercial Code (the "Code") as the same may, acknowledge and deliver from time to time be in effect in the State of New York; provided, that in the event that, by reason of mandatory provisions of law, any and or all of the attachment, perfection or priority of the Lenders' security interest in any Property is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term "Code" shall mean the Uniform Commercial Code as in effect in such further conveyances, documents, mortgages and assurances as Standard Federal may reasonably require other jurisdiction for accomplishing the purposes hereof, including financing statements required by Standard Federal to protect its interest under of the provisions of this Mortgage relating to such attachment, perfection or priority and for purposes of definitions related to such provisions, with respect to any property included in the Michigan Uniform Commercial definition herein of the word "Property," which property may not be deemed to form a part of the Land or may not constitute a "fixture" (within the meaning of the applicable section of the Code) and any fixture which constitutes a part of the Property, as amended, forthwith upon the written request of Standard Federal. Upon any failure of Borrower to do so, Standard Federal may execute, record, file, re-record and refile any and all replacements of such documents property, substitutions for and in the name of Borrowersuch property, additions to such property, and Borrower hereby irrevocably appoints Standard Federal the proceeds thereof (subsections (1) and (2) are collectively referred to herein as agent and attorney-in-fact of Borrower for the foregoing purposes. This instrument is intended by the parties to be, and shall be construed as, a security agreement, as "Collateral"); (ii) that term is defined and used in Article Nine of the Michigan Uniform Commercial Code, as amended, and shall grant to Standard Federal a security interest in that portion and to the Collateral is hereby granted to Mortgagee and that, upon recordation in the real estate records of the Project proper office this instrument shall constitute a "fixture filing" within the meaning of the applicable section of the Code; and (iii) that all of Mortgagor's right, title and interest to the Collateral are hereby assigned to Mortgagee; all to secure payment of the Secured Obligations. Without limiting the foregoing, Mortgagor agrees that it will execute and cause to be properly filed and/or recorded such further Financing Statements and Continuation Statements as Mortgagee may request in order to perfect and preserve the security interest of Mortgagor in the Collateral. (b) If any Event of Default occurs hereunder, Mortgagee, pursuant to the appropriate provisions of the Code, shall have an option to proceed with respect to both the real property and the Collateral in accordance with its rights, powers and remedies with respect to the real property, in which a security interest can be granted under Article Nine event the default provisions of the Michigan Uniform Commercial Code, as amended, which security interest Code shall include a security interest in all personalty owned by Borrower, whether now owned or subsequently acquired, which is or in the future may be physically located on or affixed not apply. The parties agree that if Mortgagee shall elect to proceed with respect to the Project described in Exhibit "A" heretoCollateral separately from the real property, regardless of whether such personalty consists of fixtures Mortgagee shall have all remedies available to a secured party under Michigan law, a security interest in the proceeds Code and products ten (10) days' notice of the proceeds sale shall be reasonable notice. The reasonable expenses of all insurance policies now or hereafter covering all or any part of such collateralretaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses incurred by Mortgagee. For purposes of Article Nine of the Michigan Uniform Commercial Code, (a) Borrower herein is the "debtor", (b) Standard Federal herein is the "secured party", (c) information concerning Except as otherwise permitted by the security interest created hereby may be obtained from Standard Federal at its address set forth Credit Agreement or the Indenture as in effect on page 1 the date hereof, and (d) Borrower's mailing address is that set forth on page 1 hereofMortgagor agrees that, without the written consent of Mortgagee, Mortgagor will not remove or permit the removal of any Collateral. Section 1.17.

Security Agreement and Financing Statements. Borrower Grantor shall execute, acknowledge and deliver any and all such further conveyances, documents, mortgages and assurances as Standard Federal may reasonably require for accomplishing the purposes hereof, including financing statements required by Standard Federal the Bank to protect its interest under the provisions of the Michigan Uniform Commercial Code, as amended, forthwith upon the written request of Standard Federalthe Bank. Upon any failure of Borrower Grantor to do so, Standard Federal the Bank may execute, record, file, re-record and refile any and all such documents for and in the name of BorrowerGrantor, and Borrower Grantor hereby irrevocably appoints Standard Federal the Bank as agent and attorney-in-fact of Borrower Grantor for the foregoing purposes. This instrument is intended by the parties to be, and shall be construed as, a security agreement, as that term is defined and used in Article Nine of the Michigan Uniform Commercial Code, as amended, and shall grant to Standard Federal the Bank a security interest in that portion of the Project Property with respect to which a security interest can be granted under Article Nine of the Michigan Uniform Commercial Code, as amended, which security interest shall include a security interest in all personalty owned by BorrowerGrantor, whether now owned or subsequently acquired, which is or in the future may be physically located on or affixed to the Project Property described in Exhibit "“A" hereto” hereto (but not otherwise), regardless of whether such personalty consists of fixtures under Michigan lawApplicable Law, a security interest in the proceeds and products of the proceeds of all insurance policies now or hereafter covering all or any part of such collateral. For purposes of Article Nine of the Michigan Uniform Commercial Code, (a) Borrower Grantor herein is the "“debtor"”, (b) Standard Federal the Bank herein is the "“secured party"”, (c) information concerning the security interest created hereby may be obtained from Standard Federal the Bank at its address set forth on page 1 hereof, and (d) Borrower's Grantor’s mailing address is that set forth on page 1 hereof.

Security Agreement and Financing Statements. Borrower shall execute, acknowledge and deliver any and all such further conveyances, documents, mortgages and assurances as Standard Federal may reasonably require for accomplishing the purposes hereof, including financing statements required by Standard Federal to protect its interest under the provisions of the Michigan Uniform Commercial Code, as amended, forthwith upon the written request of Standard Federal. Upon any failure of Borrower to do so, Standard Federal may execute, record, file, re-re- record and refile any and all such documents for and in the name of Borrower, and Borrower hereby irrevocably appoints Standard Federal as agent and attorney-in-fact of Borrower for the foregoing purposes. This instrument is intended by the parties to be, and shall be construed as, a security agreement, as that term is defined and used in Article Nine of the Michigan Uniform Commercial Code, as amended, and shall grant to Standard Federal a security interest in that portion of the Project with respect to which a security interest can be granted under Article Nine of the Michigan Uniform Commercial Code, as amended, which security interest shall include a security interest in all personalty owned by Borrower, whether now owned or subsequently acquired, which is or in the future may be physically located on or affixed to the Project described in Exhibit "A" hereto, regardless of whether such personalty consists of fixtures under Michigan applicable law, a security interest in the proceeds and products of the proceeds of all insurance policies now or hereafter covering all or any part of such collateral. For purposes of Article Nine of the Michigan Uniform Commercial Code, (a) Borrower herein is the "debtor", (b) Standard Federal herein is the "secured party", (c) information concerning the security interest created hereby may be obtained from Standard Federal at its address set forth on page 1 hereof, and (d) Borrower's mailing address is that set forth on page 1 hereof. This Mortgage shall also be effective as a financing statement filed as a fixture filing for purposes of Article 9 of the Uniform Commercial Code. The fixture filing covers all goods that are or are to become affixed to the premises. The goods are described by item or type on pages 1 and 2 of this Mortgage. This Mortgage is signed by the debtor (Borrower) also as a fixture filing. The real estate to which the goods are or to be affixed is described in Exhibit A. The Borrower is a record owner of the real estate.

Security Agreement and Financing Statements. Borrower Grantor shall execute, acknowledge and deliver any and all such further conveyances, documents, mortgages and assurances as Standard Federal may reasonably require for accomplishing the purposes hereof, including financing statements required by Standard Federal the Bank to protect its interest under the provisions of the Michigan applicable Uniform Commercial Code, as amended, forthwith upon the written request of Standard Federalthe Bank. Upon any failure of Borrower Grantor to do so, Standard Federal the Bank may execute, record, file, re-record and refile any and all such documents for and in the name of BorrowerGrantor, and Borrower Grantor hereby irrevocably appoints Standard Federal the Bank as agent and attorney-in-fact of Borrower Grantor for the foregoing purposes. This instrument is intended by the parties to be, and shall be Loan No. 33453 construed as, a security agreement, as that term is defined and used in Article Nine of the Michigan applicable Uniform Commercial Code, as amended, and shall grant to Standard Federal the Bank a security interest in that portion of the Project Property with respect to which a security interest can be granted under Article Nine of the Michigan applicable Uniform Commercial Code, as amended, which security interest shall include a security interest in all personalty owned by BorrowerGrantor, whether now owned or subsequently acquired, which is or in the future may be physically located on or affixed to the Project Property described in Exhibit "“A" hereto” hereto (but not otherwise), regardless of whether such personalty consists of fixtures under Michigan lawApplicable Law, a security interest in the proceeds and products of the proceeds of all insurance policies now or hereafter covering all or any part of such collateral. For purposes of Article Nine of the Michigan applicable Uniform Commercial Code, (a) Borrower Grantor herein is the "“debtor"”, (b) Standard Federal the Bank herein is the "“secured party"”, (c) information concerning the security interest created hereby may be obtained from Standard Federal the Bank at its address set forth on page 1 hereof, and (d) Borrower's Grantor’s mailing address is that set forth on page 1 hereof.

Security Agreement and Financing Statements. Borrower Grantor shall execute, acknowledge and deliver any and all such further conveyances, documents, mortgages and assurances as Standard Federal may reasonably require for accomplishing the purposes hereof, including financing statements required by Standard Federal the Bank to protect its interest under the provisions of the Michigan Uniform Commercial Code, as amended, forthwith upon the written request of Standard Federalthe Bank. Upon any failure of Borrower Grantor to do so, Standard Federal the Bank may execute, record, file, re-record and refile any and all such documents for and in the name of BorrowerGrantor, and Borrower Grantor hereby irrevocably appoints Standard Federal the Bank as agent and attorney-in-fact of Borrower Grantor for the foregoing purposes. This instrument is intended by the parties to be, and shall be construed as, a security agreement, as that term is defined and used in Article Nine of the Michigan Uniform Commercial Code, as amended, and shall grant to Standard Federal the Bank a security interest in that portion of the Project Property with respect to which a security interest can be granted under Article Nine of the Michigan Uniform Commercial Code, as amended, which security interest shall include a security interest in all personalty owned by BorrowerGrantor, whether now owned or subsequently acquired, which is or in the future may be physically located on or affixed to the Project Property described in Exhibit "A" heretohereto (but not otherwise), regardless of whether such personalty consists of fixtures under Michigan lawApplicable Law, a security interest in the proceeds and products of the proceeds of all insurance policies now or hereafter covering all or any part of such collateral. For purposes of Article Nine of the Michigan Uniform Commercial Code, (a) Borrower herein is the "debtor", (b) Standard Federal herein is the "secured party", (c) information concerning the security interest created hereby may be obtained from Standard Federal at its address set forth on page 1 hereof, and (d) Borrower's mailing address is that set forth on page 1 hereof.of