Common use of Uniform Commercial Code Security Agreement Clause in Contracts

Uniform Commercial Code Security Agreement. The following additional Minnesota provision pertains to the Uniform Commercial Code Security Agreement, Section 2, of the Security Instrument: For the purposes of such financing statement: (i) Borrower shall be deemed the “Debtor” with the address set forth in the first paragraph on page 1, (ii) Lender shall be deemed the “Secured Party” with the address set forth in the first paragraph on page 1, (iii) this Security Instrument covers goods which are or are to become Fixtures; (iv) the name of the record owner of the Land is the Debtor, (v) this Security Instrument is to be filed for record in the real property records, and (vi) see Exhibit A for a description of the real property to which the collateral is related.

Uniform Commercial Code Security Agreement. The following additional Minnesota provision pertains to the Uniform Commercial Code Security Agreement, Section 2, of the Security Instrument: For the purposes of such financing statement: (i) Borrower shall be deemed the “Debtor” with the address set forth in the first paragraph on page 1, (ii) Lender shall be deemed the “Secured Party” with the address set forth in the first paragraph on page 1, (iii) this Security Instrument covers goods which are or are to become Fixtures; (iv) the name of the record owner of the Land is the Debtor, (v) the taxpayer identification number of the Debtor is _________________, (vi) this Security Instrument is to be filed for record in the real property records, and (vivii) see Exhibit A for a description of the real property to which the collateral is related.