0001144204-06-026990 Sample Contracts

SECURITY AGREEMENT

Security Agreement • June 30th, 2006 • Universal Capital Management, Inc. • Delaware

• Contract Type
  Security Agreement
• Filed
  June 30th, 2006
• Company
  Universal Capital Management, Inc.
• Jurisdiction
  Delaware

THIS SECURITY AGREEMENT is made as of the 15th day of June 2006 at 2601 Annand Dr., Suite #16, Wilmington, Delaware 19808, by and between David M. Bovi, and individual (“Maker”) and Universal Capital Management, Inc. (“Payee”). Concurrently with the execution of this security agreement (“Agreement”), Maker is executing and delivering to Payee a promissory note (the “Note”) of even date hereof, in the principal amount of $800,000.