Common use of Security Registration Clause in Contracts

Security Registration. You hereby grant us a security interest in the Collateral as security for payment of the amounts owing by you to us under this Agreement. The attachment of security interest has not been postponed. You grant us the right to register at your expense the security interest under this Agreement against you and against title to the lands where the Collateral is to be located. Unless prohibited by law, you waive your right to receive a copy of such registration where required and you appoint us as your lawful attorney for registration and receipt of notice. If we are requested to postpone our security interest at any time to another lender during the Repayment Term of the Agreement, we may charge a postponement fee. We will also charge a discharge fee to discharge our security interest under this Agreement once you have paid us all amounts owing under the Agreement.