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                                                                     EXHIBIT 4.7

                     AMENDED AND RESTATED SECURITY AGREEMENT

         AMENDED AND RESTATED SECURITY AGREEMENT (this "Security Agreement"),
dated as of July 20, 1999, between NATIONSRENT, INC., a Delaware corporation
(the "Parent") and its Restricted Subsidiaries party to the Credit Agreement
defined below (each a "Borrower" and collectively, the "Borrowers"), and
BANKBOSTON, N.A., a national banking association, as administrative agent
(hereinafter, in such capacity, the "Administrative Agent") for itself and other
lending institutions (hereinafter, collectively, the "Lenders"), which are or
may become parties to a Fourth Amended and Restated Revolving Credit and Term
Loan Agreement dated as of July 20, 1999 (as amended and in effect from time to
time, the "Credit Agreement"), among the Borrowers, the Lenders, the
Administrative Agent and Bankers Trust Company, as syndication agent (the
"Syndication Agent").

         WHEREAS, certain of the Borrowers as well as certain other parties
entered into a Third Amended and Restated Revolving Credit and Term Loan
Agreement dated as of February 11, 1999 (such agreement as heretofore amended
and in effect from time to time, the "Prior Credit Agreement"); and

         WHEREAS, certain of the Borrowers and the Administrative Agent were
parties to that certain Security Agreement dated as of March 18, 1998 (as
amended to date, the "Prior Security Agreement"), pursuant to which the
Borrowers named therein pledged and granted security interests in favor of the
Administrative Agent for the benefit of the Lenders to secure the payment and
performance of such Borrowers' obligations under the Prior Credit Agreement; and

         WHEREAS, the remainder of the Borrowers joined the Prior Security
Agreement pursuant to various Joinder Agreements or amendments to the Prior
Security Agreement; and

         WHEREAS, each of the Borrowers is expected to receive substantial
direct and indirect benefits from the extensions of credit by the Lenders to the
Borrowers pursuant to the Credit Agreement; and

         WHEREAS, the Prior Credit Agreement will be superseded by the Credit
Agreement on the Closing Date (as defined in the Credit Agreement); and

         WHEREAS, it is a condition precedent to the Lenders' making any Loans
to, and the Issuing Banks' issuing Letters of Credit for the account of, the
Borrowers under the Credit Agreement that each of the Borrowers execute and
deliver to the Administrative Agent, for the benefit of the Lenders and the
Administrative Agent, a security agreement in substantially the form hereof; and



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         WHEREAS, the parties hereto desire to amend and restate all of their
rights and obligations under the Security Agreement and reaffirm and grant
security interests in favor of and as provided herein; and

         NOW, THEREFORE, in consideration of the promises contained herein and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

         1. DEFINITIONS. All capitalized terms used herein without definitions
shall have the respective meanings provided therefor in the Credit Agreement.
All terms defined in the Uniform Commercial Code of the State of New York and
used herein shall have the same definitions herein as specified therein. "Motor
Vehicle Equipment" shall mean all trucks, trailers, automobiles, tires and all
related equipment and accessions with respect to which any Borrower now or
hereafter has full and unencumbered title, except for Permitted Liens.

         2. GRANT OF SECURITY INTEREST.

                  2.1. COLLATERAL GRANTED. Each of the Borrowers (a) hereby
         ratifies and affirms the grant of security interests made pursuant to
         the Prior Security Agreement, and (b) to the extent not covered under
         clause (a), further grants to the Administrative Agent, for the benefit
         of the Lenders and the Administrative Agent, to secure the payment and
         performance in full of all of the Obligations, a security interest in
         and so pledges and collaterally assigns to the Administrative Agent,
         for the benefit of the Lenders and the Administrative Agent, the
         following properties, assets and rights of such Borrower, wherever
         located, whether now owned or hereafter acquired or arising, and all
         proceeds and products thereof (all of the same being hereinafter called
         the "Collateral"):

                           All personal and fixture property of every kind and
                  nature including without limitation all furniture, fixtures,
                  equipment (including all titled or registered equipment and
                  rental equipment), raw materials, motor vehicles, trucks,
                  trailers, tractors, cranes, and all related equipment, parts
                  and accessions and additions with respect thereto, inventory,
                  other goods, accounts, contract rights, rights to the payment
                  of money, insurance refund claims and all other insurance
                  claims and proceeds, tort claims, chattel paper, documents,
                  instruments, securities and other investment property, deposit
                  accounts and all general intangibles including, without
                  limitation, all tax refund claims, license fees, patents,
                  patent applications, trademarks, trademark applications, trade
                  names, copyrights, copyright applications, rights to sue and
                  recover for past infringement of patents, trademarks and
                  copyrights, computer programs, computer software, engineering
                  drawings, service marks, customer lists, goodwill, and all
                  licenses,




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                  permits, agreements of any kind or nature pursuant to which
                  such Borrower possesses, uses or has authority to possess or
                  use property (whether tangible or intangible) of others or
                  others possess, use or have authority to possess or use
                  property (whether tangible or intangible) of such Borrower,
                  and all recorded data of any kind or nature, regardless of the
                  medium of recording including, without limitation, all
                  software, writings, plans, specifications and schematics.

                  2.2. DELIVERY OF INSTRUMENTS, ETC.

                           (a) Pursuant to the terms hereof, each of the
                  Borrowers has endorsed, assigned and delivered to the
                  Administrative Agent all negotiable or non-negotiable
                  instruments (including certificated securities) and chattel
                  paper pledged by it hereunder, together with instruments of
                  transfer or assignment duly executed in blank as the
                  Administrative Agent may have specified. In the event that any
                  of the Borrowers shall, after the date of this Security
                  Agreement, acquire any other negotiable or non-negotiable
                  instruments (including certificated securities) or chattel
                  paper to be pledged by it hereunder, such Borrower shall
                  forthwith endorse, assign and deliver the same to the
                  Administrative Agent, accompanied by such instruments of
                  transfer or assignment duly executed in blank as the
                  Administrative Agent may from time to time specify. The
                  Administrative Agent agrees with each of the Borrowers that
                  the Administrative Agent shall not take any actions with
                  respect to such instruments and chattel paper unless a Default
                  or an Event of Default has occurred and is continuing and the
                  Administrative Agent has elected to exercise its rights and
                  remedies as contemplated by ss.15.

                           (b) To the extent that any securities now or
                  hereafter acquired by any of the Borrowers are uncertificated
                  and are issued to such Borrower or its nominee directly by the
                  issuer thereof, such Borrower shall cause the issuer to note
                  on its books the security interest of the Administrative Agent
                  in such securities and shall cause the issuer, pursuant to an
                  agreement in form and substance satisfactory to the
                  Administrative Agent, to agree to comply with instructions
                  from the Administrative Agent as to such securities, without
                  further consent of such Borrower or such nominee. To the
                  extent that any securities, whether certificated or
                  uncertificated, or other financial assets now or hereafter
                  acquired by any of the Borrower are held by such Borrower or
                  its nominee through a securities intermediary, such Company
                  shall (i) cause such securities intermediary to note on its
                  books the security interest of the Administrative Agent in
                  such securities or other financial assets and to confirm such
                  notation promptly to the Administrative Agent and (ii), at the
                  request of the





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                  Administrative Agent, cause such securities intermediary,
                  pursuant to an agreement in form and substance satisfactory to
                  the Administrative Agent, to agree to comply with entitlement
                  orders or other instructions from the Administrative Agent as
                  to such securities or other financial assets, without further
                  consent of such Borrower or such nominee. The Administrative
                  Agent agrees with each of the Borrowers that the
                  Administrative Agent shall not give any such entitlement
                  orders or instructions to any such issuer or securities
                  intermediary unless a Default or an Event of Default has
                  occurred and is continuing and the Administrative Agent has
                  elected to exercise its rights and remedies as contemplated by
                  ss.15.

                  2.3. EXCLUDED COLLATERAL. Notwithstanding the foregoing
         provisions of this ss.2, such grant of security interest shall not
         extend to, and the term "Collateral" shall not include, any chattel
         paper and general intangibles which are now or hereafter held by any of
         the Borrowers as licensee, lessee or otherwise, to the extent that (i)
         such chattel paper and general intangibles are not assignable or
         capable of being encumbered as a matter of law or under the terms of
         the license, lease or other agreement applicable thereto (but solely to
         the extent that any such restriction shall be enforceable under
         applicable law), without the consent of the licensor or lessor thereof
         or other applicable party thereto and (ii) such consent has not been
         obtained; PROVIDED, HOWEVER, that the foregoing grant of security
         interest shall extend to, and the term "Collateral" shall include, (A)
         any and all proceeds of such chattel paper and general intangibles to
         the extent that the assignment or encumbering of such proceeds is not
         so restricted and (B) upon any such licensor, lessor or other
         applicable party consent with respect to any such otherwise excluded
         chattel paper or general intangibles being obtained, thereafter such
         chattel paper or general intangibles as well as any and all proceeds
         thereof that might have theretofore have been excluded from such grant
         of a security interest and the term "Collateral".

                  2.4. STOCK PLEDGE AGREEMENT. Concurrently herewith the Parent
         and NRGP, Inc. are executing and delivering to the Administrative
         Agent, for the benefit of the Lenders and the Administrative Agent, a
         stock pledge agreement pursuant to which the Parent and NRGP, Inc. are
         each pledging to the Administrative Agent, for the benefit of the
         Lenders and the Administrative Agent, all the shares of the capital
         stock of each of their Subsidiaries. Such pledge shall be governed by
         the terms of such stock pledge agreement and not by the terms of this
         Security Agreement.

                  2.5. PARTNERSHIP PLEDGE AGREEMENTS. Concurrently herewith
         NRGP, Inc., NR Delaware, Inc., and NationsRent USA, Inc. are executing
         and delivering to the Administrative Agent, for the benefit of the
         Lenders and the Administrative Agent, several partnership pledge





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         agreements pursuant to which NRGP, Inc., NR Delaware, Inc., and
         NationsRent USA, Inc. are each pledging to the Administrative Agent,
         for the benefit of the Lenders and the Administrative Agent, all the
         shares of the partnership interests of each of NationsRent of Indiana,
         LP and NationsRent of Texas, LP. Such pledges shall be governed by the
         terms of such partnership pledge agreements and not by the terms of
         this Security Agreement.

         3. TITLE TO COLLATERAL, ETC. Each of the Borrowers is the owner of the
Collateral free from any adverse lien, security interest or other encumbrance,
except for the security interest created by this Security Agreement and other
liens permitted by the Credit Agreement. None of the Collateral constitutes, or
is the proceeds of, "farm products" as defined in ss.9-109(3) of the Uniform
Commercial Code of the State of New York. None of the account debtors in respect
of any accounts, chattel paper or general intangibles and none of the obligors
in respect of any instruments included in the Collateral is a governmental
authority subject to the Federal Assignment of Claims Act.

         4. CONTINUOUS PERFECTION - IN GENERAL. Each Borrower's place of
business or, if more than one, chief executive office is indicated on the
Perfection Certificate delivered by each Borrower to the Administrative Agent
herewith (the "Perfection Certificates"). None of the Borrowers will change the
same, or the name, identity or corporate structure of such Borrower in any
manner, without providing at least thirty (30) days prior written notice to the
Administrative Agent. The Collateral, other than Motor Vehicle Equipment, to the
extent not delivered to the Administrative Agent pursuant to ss.2.2, except
under rental arrangements in the ordinary course of business, will be kept at
those locations listed on the Perfection Certificates and none of the Borrowers
will remove the Collateral from such locations, without providing at least
thirty (30) days prior written notice to the Administrative Agent.

         5. PERFECTION - MOTOR VEHICLE EQUIPMENT. (a) ON THE CLOSING DATE. If
required under ss.7.19 of the Credit Agreement, each item of Collateral the
ownership of, or title to, which is evidenced by a motor vehicle or other
certificate of title statute (the "Titled Equipment"), the jurisdiction in which
each such item of Titled Equipment is registered or titled, and the vehicle
identification number, or other appropriate serial number relating thereto, is
listed on the Schedule of Titled Equipment (the "Titled Equipment Schedule")
attached to the Perfection Certificate delivered by each Borrower to the
Administrative Agent. On the Closing Date, the Borrowers shall either (i)
deliver to the Administrative Agent properly completed applications to note the
lien of the Administrative Agent on the certificates of title with respect to
each item of Titled Equipment owned by any Borrower which will evidence the lien
of the Administrative Agent in such Titled Equipment together with the originals
of each such certificate of title and provide for payment of all filing fees
with respect thereto or (ii) make appropriate electronic application(s) to note
the lien of the Administrative Agent on certificates of title (which will
evidence the lien of




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the Administrative Agent in such Titled Equipment) with the appropriate state
registries of motor vehicles on behalf of the Administrative Agent and provide
evidence satisfactory to the Administrative Agent that originals of such
certificates of title have been delivered to such registries of motor vehicles
and that the Borrowers have paid all filing fees relating to such applications.

         (b) COVENANTS OF THE BORROWERS. Each Borrower will, at all times,
except for transfers permitted pursuant to ss.6 hereof, if required under
ss.7.19 of the Credit Agreement, (i) maintain the registration and titling of
each item of Titled Equipment in the jurisdiction set forth with respect thereto
on the applicable Perfection Certificate and (ii) cause the lien of the
Administrative Agent on each item of Titled Equipment to be noted on the
certificate of title relating thereto. Upon the acquisition of any additional
Titled Equipment, such Borrower shall promptly, and in any event within ten (10)
days after such acquisition, (i) cause the lien of the Administrative Agent on
such Titled Equipment to be noted on the certificate of title relating thereto
and (ii) deliver to the Administrative Agent such certificate of title (which
shall evidence the lien of the Administrative Agent thereon). The Borrowers
shall cause all additional Titled Equipment to be listed on the Titled Equipment
Schedule Update delivered to the Administrative Agent pursuant to ss.6(c)
hereof. Each certificate of title relating to Titled Equipment shall be
delivered by the Borrowers to the Administrative Agent at the Administrative
Agent's Head Office, Attention: Timothy M. Laurion, Environmental Division.

         6. TRANSFERS OF COLLATERAL.(a) IN GENERAL. Except (i) as otherwise
permitted under the Credit Agreement and (ii) in compliance with the terms of
this ss.6, if applicable, none of the Borrowers will sell or offer to sell or
otherwise transfer the Collateral or any interest therein.

         (b) TRANSFERS OF TITLED EQUIPMENT. If the Lenders' liens have been
noted on titled equipment pursuant to ss.7.19 of the Credit Agreement, in
connection with any sale or other transfer of Titled Equipment permitted
pursuant to ss.8.4.2 of the Credit Agreement, the applicable Borrower shall
request the Administrative Agent to release the lien of the Administrative Agent
in such Titled Equipment; PROVIDED that the Borrowers shall not take or request
or cause the Administrative Agent to take, any action to release such lien if
(i) such release of lien or transfer of Titled Equipment would not be in
compliance with the terms of this Security Agreement or the other Loan
Documents, or (ii) after giving effect to such sale or transfer, a Default or
Event of Default shall exist under the Credit Agreement. The proceeds from the
sale of Titled Equipment shall be applied in accordance with ss.8.4.2 of the
Credit Agreement.

         (c) REVISED TITLED EQUIPMENT SCHEDULE. If required pursuant to ss.7.19
of the Credit Agreement and requested by the Majority Lenders, within 30 days of
such request, each Borrower shall deliver to the Administrative Agent an updated
Titled Equipment Schedule, listing, as of the last day of the immediately
preceding calendar month, (i) each item of




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Titled Equipment owned by such Borrower, (ii) the jurisdiction in which each
such item of Titled Equipment is registered or titled, (iii) the vehicle
identification number, or other appropriate serial number relating thereto, and
(iv) each item of Titled Equipment acquired and each item of Titled Equipment
sold or otherwise transferred during such calendar month.

         7. NO LIENS. Except for the security interest herein granted and liens
permitted by the Credit Agreement, the Borrowers shall be the owner of the
Collateral free from any lien, security interest or other encumbrance, and each
of the Borrowers shall defend the same against all material claims and demands
of all persons at any time claiming the same or any interests therein adverse to
the Administrative Agent or any of the Lenders. None of the Borrowers shall
pledge, mortgage or create, or suffer to exist a security interest in the
Collateral in favor of any person other than the Administrative Agent, for the
benefit of the Lenders and the Administrative Agent, except for liens permitted
by the Credit Agreement.

         8. INSURANCE.

                  8.1. MAINTENANCE OF INSURANCE. Each of the Borrowers will
         maintain with financially sound and reputable insurers insurance with
         respect to its properties and business against such casualties and
         contingencies as shall be in accordance with general practices of
         businesses engaged in similar activities in similar geographic areas.
         Such insurance shall be in such minimum amounts that such Borrower will
         not be deemed a co-insurer under applicable insurance laws, regulations
         and policies and otherwise shall be in such amounts, contain such
         terms, be in such forms and be for such periods as may be reasonably
         satisfactory to the Administrative Agent. In addition, all such
         insurance covering losses over $1,000,000 shall be payable to the
         Administrative Agent as loss payee under a "standard" or "New York"
         loss payee clause for the benefit of the Lenders and the Administrative
         Agent and the Administrative Agent shall be named as additional insured
         on all liability insurance policies. Without limiting the foregoing,
         each of the Borrowers will (i) keep all of its physical property
         insured with casualty or physical hazard insurance on an "all risks"
         basis, with broad form flood and earthquake coverage and electronic
         data processing coverage, with a full replacement cost endorsement and
         an "agreed amount" clause in an amount equal to 100% of the full
         replacement cost of such property, (ii) maintain all such workers'
         compensation or similar insurance as may be required by law and (iii)
         maintain, in amounts and with deductibles equal to those generally
         maintained by businesses engaged in similar activities in similar
         geographic areas, general public liability insurance against claims of
         bodily injury, death or property damage occurring, on, in or about the
         properties of such Borrower; business interruption insurance; and
         product liability insurance.



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                  8.2. INSURANCE PROCEEDS. The proceeds of any casualty
         insurance in respect of any casualty loss of any of the Collateral
         shall, subject to the rights, if any, of other parties with a prior
         interest in the property covered thereby, (i) so long as no Default or
         Event of Default has occurred and is continuing and to the extent that
         the amount of such proceeds is less than $1,000,000 be disbursed to the
         Borrower which has suffered such loss for direct application by such
         Borrower solely to the repair or replacement of such Borrower's
         property so damaged or destroyed and (ii) in all other circumstances,
         be held by the Administrative Agent as cash collateral for the
         Obligations. Upon the occurrence of an Event of Default, the
         Administrative Agent may, at its sole option, disburse from time to
         time all or any part of such proceeds so held as cash collateral, upon
         such terms and conditions as the Administrative Agent may reasonably
         prescribe, for direct application by the Borrowers solely to the repair
         or replacement of the Borrowers property so damaged or destroyed, or
         the Administrative Agent may apply all or any part of such proceeds to
         the Obligations with the Total Commitment (if not then terminated)
         being reduced by the amount so applied to the Obligations.

                  8.3. NOTICE OF CANCELLATION, ETC. All policies of insurance
         shall provide for at least thirty (30) days prior written cancellation
         notice to the Administrative Agent. In the event of failure by any of
         the Borrowers to provide and maintain insurance as herein provided, the
         Administrative Agent may, at its option, provide such insurance and
         charge the amount thereof to the Borrowers. Each of the Borrowers shall
         furnish the Administrative Agent with certificates of insurance and
         policies evidencing compliance with the foregoing insurance provision.

         9. MAINTENANCE OF COLLATERAL; COMPLIANCE WITH LAW. Each of the
Borrowers will keep the Collateral in good order and repair in their reasonable
business judgment and will not use the same in violation of law or any policy of
insurance thereon. The Administrative Agent, or its designee, may inspect the
Collateral at any reasonable time, wherever located. Each of the Borrowers will
pay promptly when due all taxes, assessments, governmental charges and levies
upon the Collateral or incurred in connection with the use or operation of such
Collateral or incurred in connection with this Security Agreement. Each of the
Borrowers has at all times operated, and such Borrower will continue to operate,
its business in compliance with all applicable provisions of the federal Fair
Labor Standards Act, as amended, and with all applicable provisions of federal,
state and local statutes and ordinances dealing with the control, shipment,
storage or disposal of hazardous materials or substances.



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         10. COLLATERAL PROTECTION EXPENSES; PRESERVATION OF COLLATERAL.

                  10.1. EXPENSES INCURRED BY ADMINISTRATIVE AGENT. In its
         discretion, the Administrative Agent may discharge taxes and other
         encumbrances at any time levied or placed on any of the Collateral,
         make repairs thereto and pay any necessary filing fees. Each of the
         Borrowers agrees to reimburse the Administrative Agent on demand for
         any and all expenditures so made. The Administrative Agent shall have
         no obligation to any of the Borrowers to make any such expenditures,
         nor shall the making thereof relieve the Borrowers of any default.

                  10.2. ADMINISTRATIVE AGENT'S OBLIGATIONS AND DUTIES. Anything
         herein to the contrary notwithstanding, each of the Borrowers shall
         remain liable under each contract or agreement comprised in the
         Collateral to be observed or performed by such Borrower thereunder.
         Neither the Administrative Agent nor any Lender shall have any
         obligation or liability under any such contract or agreement by reason
         of or arising out of this Security Agreement or the receipt by the
         Administrative Agent or any Lender of any payment relating to any of
         the Collateral, nor shall the Administrative Agent or any Lender be
         obligated in any manner to perform any of the obligations of such
         Borrower under or pursuant to any such contract or agreement, to make
         inquiry as to the nature or sufficiency of any payment received by the
         Administrative Agent or any Lender in respect of the Collateral or as
         to the sufficiency of any performance by any party under any such
         contract or agreement, to present or file any claim, to take any action
         to enforce any performance or to collect the payment of any amounts
         which may have been assigned to the Administrative Agent or to which
         the Administrative Agent or any Lender may be entitled at any time or
         times. The Administrative Agent's sole duty with respect to the
         custody, safe keeping and physical preservation of the Collateral in
         its possession, under ss.9-207 of the Uniform Commercial Code of the
         State of New York or otherwise, shall be to deal with such Collateral
         in the same manner as the Administrative Agent deals with similar
         property for its own account and as otherwise required by law.

         11. SECURITIES AND DEPOSITS. The Administrative Agent may at any time,
at its option, transfer to itself or any nominee any securities constituting
Collateral, receive any income thereon and hold such income as additional
Collateral or apply it to the Obligations. Whether or not any Obligations are
due, the Administrative Agent may at any time sue for, collect, or make any
settlement or compromise which it deems desirable with respect to the
Collateral. Regardless of the adequacy of Collateral or any other security for
the Obligations, any deposits or other sums at any time credited by or due from
the Administrative Agent or any Lender to any of the Borrowers may at any time
be applied to or set off against any of the Obligations.



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         12. NOTIFICATION TO ACCOUNT DEBTORS AND OTHER OBLIGORS. If an Event of
Default shall have occurred and be continuing, each of the Borrowers shall, at
the request of the Administrative Agent, notify account debtors on accounts,
chattel paper and general intangibles of such Borrower and obligors on
instruments for which such Borrower is an obligee of the security interest of
the Administrative Agent in any account, chattel paper, general intangible or
instrument and that payment thereof is to be made directly to the Administrative
Agent or to any financial institution designated by the Administrative Agent as
the Administrative Agent's agent therefor, and the Administrative Agent may
itself, if a Default or an Event of Default shall have occurred and be
continuing, without notice to or demand upon such Borrower, so notify account
debtors and obligors. After the making of such a request or the giving of any
such notification, each of the Borrowers shall hold any proceeds of collection
of accounts, chattel paper, general intangibles and instruments received by such
Borrower as trustee for the Administrative Agent, for the benefit of the Lenders
and the Administrative Agent, without commingling the same with other funds of
such Borrower and shall turn the same over to the Administrative Agent in the
identical form received, together with any necessary endorsements or
assignments. The Administrative Agent shall apply the proceeds of collection of
accounts, chattel paper, general intangibles and instruments received by the
Administrative Agent to the Obligations, such proceeds to be immediately entered
after final payment in cash or solvent credits of the items giving rise to them.

         13. FURTHER ASSURANCES. Each of the Borrowers, at its own expense,
shall do, make, execute and deliver all such additional and further acts,
things, deeds, assurances and instruments as the Administrative Agent may
reasonably require more completely to vest in and assure to the Administrative
Agent and the Lenders their respective rights hereunder or in any of the
Collateral, including, without limitation, (i) executing, delivering and, where
appropriate, filing financing statements and continuation statements under the
Uniform Commercial Code, (ii) obtaining governmental and other third party
consents and approvals, including without limitation any consent of any
licensor, lessor or other applicable party referred to in ss.2.3, (iii)
obtaining waivers from mortgagees and landlords, and (iv) taking all actions
required by Sections 8-313 and 8-321 of the Uniform Commercial Code (1990) or
Sections 8-106 and 9-115 of the Uniform Commercial Code (1994), as applicable in
each relevant jurisdiction, with respect to certificated and uncertificated
securities.

         14. POWER OF ATTORNEY.

                  14.1. APPOINTMENT AND POWERS OF ADMINISTRATIVE AGENT. Each of
         the Borrowers hereby irrevocably constitutes and appoints the
         Administrative Agent and any officer or agent thereof, with full power
         of substitution, as its true and lawful attorneys-in-fact with full
         irrevocable power and authority in the place and stead of such Borrower
         or in the Administrative Agent's own name, for the purpose of carrying
         out the terms of this Security Agreement, to take





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         any and all appropriate action and to execute any and all documents and
         instruments that may be necessary or desirable to accomplish the
         purposes of this Security Agreement and hereby gives said attorneys the
         power and right, on behalf of such Borrower, without notice to or
         assent by such Borrower, to do the following:

                           (a) upon the occurrence and during the continuance of
                  a Default or an Event of Default, generally to sell, transfer,
                  pledge, make any agreement with respect to or otherwise deal
                  with any of the Collateral in such manner as is consistent
                  with the Uniform Commercial Code of the State of New York and
                  as fully and completely as though the Administrative Agent
                  were the absolute owner thereof for all purposes, and to do at
                  such Borrower's expense, at any time, or from time to time,
                  all acts and things which the Administrative Agent deems
                  necessary to protect, preserve or realize upon the Collateral
                  and the Administrative Agent's security interest therein, in
                  order to effect the intent of this Security Agreement, all as
                  fully and effectively as such Borrower might do, including,
                  without limitation, (i) the filing and prosecuting of
                  registration and transfer applications with the appropriate
                  federal or local agencies or authorities with respect to
                  trademarks, copyrights and patentable inventions and
                  processes, (ii) upon written notice to such Borrower, the
                  exercise of voting rights with respect to voting securities,
                  which rights may be exercised, if the Administrative Agent so
                  elects, with a view to causing the liquidation in a
                  commercially reasonable manner of assets of the issuer of any
                  such securities and (iii) the execution, delivery and
                  recording, in connection with any sale or other disposition of
                  any Collateral, of the endorsements, assignments or other
                  instruments of conveyance or transfer with respect to such
                  Collateral; and

                           (b) to file such financing statements with respect
                  hereto, with or without such Borrower's signature, or a
                  photocopy of this Security Agreement in substitution for a
                  financing statement, as the Administrative Agent may deem
                  appropriate and to execute in such Borrower's name such
                  financing statements and amendments thereto and continuation
                  statements which may require such Borrower's signature.

                  14.2. RATIFICATION BY BORROWERS. To the extent permitted by
         law, each of the Borrowers hereby ratifies all that said attorneys
         shall lawfully do or cause to be done by virtue hereof. This power of
         attorney is a power coupled with an interest and shall be irrevocable.

                  14.3. NO DUTY ON ADMINISTRATIVE AGENT. The powers conferred on
         the Administrative Agent hereunder are solely to protect the interests
         of the Administrative Agent and the Lenders in the Collateral and shall
         not impose any duty upon the Administrative




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         Agent to exercise any such powers. The Administrative Agent shall be
         accountable only for the amounts that it actually receives as a result
         of the exercise of such powers and neither it nor any of its officers,
         directors, employees or agents shall be responsible to any of the
         Borrowers for any act or failure to act, except for the Administrative
         Agent's own gross negligence or willful misconduct.

         15. REMEDIES. If an Event of Default shall have occurred and be
continuing, the Administrative Agent may, without notice (except as otherwise
provided for in the Credit Agreement) to or demand upon any of the Borrowers,
declare this Security Agreement to be in default, and the Administrative Agent
shall thereafter have in any jurisdiction in which enforcement hereof is sought,
in addition to all other rights and remedies, the rights and remedies of a
secured party under the Uniform Commercial Code, including, without limitation,
the right to take possession of the Collateral, and for that purpose the
Administrative Agent may, so far as the Borrowers can give authority therefor,
enter upon any premises on which the Collateral may be situated and remove the
same therefrom. The Administrative Agent may in its discretion require any of
the Borrowers to assemble all or any part of the Collateral at such location or
locations within the state(s) of such Borrower's principal office(s) or at such
other locations as the Administrative Agent may designate. Unless the Collateral
is perishable or threatens to decline speedily in value or is of a type
customarily sold on a recognized market, the Administrative Agent shall give to
the Borrowers at least ten (10) Business Days prior written notice of the time
and place of any public sale of Collateral or of the time after which any
private sale or any other intended disposition is to be made. Each of the
Borrowers hereby acknowledges that ten (10) Business Days prior written notice
of such sale or sales shall be reasonable notice. In addition, each of the
Borrowers waives any and all rights that it may have to a judicial hearing in
advance of the enforcement of any of the Administrative Agent's rights
hereunder, including, without limitation, its right following an Event of
Default to take immediate possession of the Collateral and to exercise its
rights with respect thereto.

         16. NO WAIVER, ETC. Each of the Borrowers waives demand, notice (except
as otherwise provided for in the Credit Agreement), protest, notice of
acceptance of this Security Agreement, notice of loans made, credit extended,
Collateral received or delivered or other action taken in reliance hereon and
all other demands and notices of any description. With respect to both the
Obligations and the Collateral, each of the Borrowers assents to any extension
or postponement of the time of payment or any other indulgence, to any
substitution, exchange or release of or failure to perfect any security interest
in any Collateral, to the addition or release of any party or person primarily
or secondarily liable, to the acceptance of partial payment thereon and the
settlement, compromising or adjusting of any thereof, all in such manner and at
such time or times as the Administrative Agent may deem advisable. The
Administrative Agent shall have no duty as to the collection or protection of
the Collateral or any income thereon, nor as to the preservation of rights
against prior parties, nor as to the




                                       12
<PAGE>   13

preservation of any rights pertaining thereto beyond the safe custody thereof as
set forth in ss.10.2. The Administrative Agent shall not be deemed to have
waived any of its rights upon or under the Obligations or the Collateral unless
such waiver shall be in writing and signed by the Administrative Agent with the
consent of the Majority Lenders. No delay or omission on the part of the
Administrative Agent in exercising any right shall operate as a waiver of such
right or any other right. A waiver on any one occasion shall not be construed as
a bar to or waiver of any right on any future occasion. All rights and remedies
of the Administrative Agent with respect to the Obligations or the Collateral,
whether evidenced hereby or by any other instrument or papers, shall be
cumulative and may be exercised singularly, alternatively, successively or
concurrently at such time or at such times as the Administrative Agent deems
expedient.

         17. MARSHALLING. Neither the Administrative Agent nor any Lender shall
be required to marshal any present or future collateral security (including but
not limited to this Security Agreement and the Collateral) for, or other
assurances of payment of, the Obligations or any of them or to resort to such
collateral security or other assurances of payment in any particular order, and
all of the rights of the Administrative Agent hereunder and of the
Administrative Agent or any Lender in respect of such collateral security and
other assurances of payment shall be cumulative and in addition to all other
rights, however existing or arising. To the extent that it lawfully may, each of
the Borrowers hereby agrees that it will not invoke any law relating to the
marshalling of collateral which might cause delay in or impede the enforcement
of the Administrative Agent's rights under this Security Agreement or under any
other instrument creating or evidencing any of the Obligations or under which
any of the Obligations is outstanding or by which any of the Obligations is
secured or payment thereof is otherwise assured, and, to the extent that it
lawfully may, each of the Borrowers hereby irrevocably waives the benefits of
all such laws.

         18. PROCEEDS OF DISPOSITIONS; EXPENSES. The Borrowers shall pay to the
Administrative Agent on demand any and all expenses, including reasonable
attorneys' fees and disbursements, incurred or paid by the Administrative Agent
in protecting, preserving or enforcing the Administrative Agent's rights under
or in respect of any of the Obligations or any of the Collateral. After
deducting all of said expenses, the residue of any proceeds of collection or
sale of the Obligations or Collateral shall, to the extent actually received in
cash, be applied to the payment of the Obligations in such order or preference
as is provided in the Credit Agreement, proper allowance and provision being
made for any Obligations not then due. Upon the final payment and satisfaction
in full of all of the Obligations and after making any payments required by
Section 9-504(1)(c) of the Uniform Commercial Code of the State of New York, any
excess shall be returned to the Borrowers, and each of the Borrowers shall
remain liable for any deficiency in the payment of the Obligations.

         19. OVERDUE AMOUNTS. Until paid, all amounts remaining unpaid past the
date on which such amounts shall have first become due and





                                       13
<PAGE>   14

payable by any of the Borrowers hereunder shall be a debt secured by the
Collateral and shall bear, whether before or after judgment, interest at the
rate of interest for overdue principal set forth in the Credit Agreement.

         20. GOVERNING LAW; CONSENT TO JURISDICTION. THIS SECURITY AGREEMENT
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK. Each of the Borrowers agrees that any suit for the enforcement of this
Security Agreement may be brought in the courts of the State of New York or any
federal court sitting therein and consents to the non-exclusive jurisdiction of
such court and to service of process in any such suit being made upon such
Borrower by mail at the address set forth in ss.20 of the Credit Agreement. Each
of the Borrowers hereby waives any objection that it may now or hereafter have
to the venue of any such suit or any such court or that such suit is brought in
an inconvenient court.

         21. WAIVER OF JURY TRIAL. EACH OF THE ADMINISTRATIVE AGENT AND THE
BORROWERS WAIVES ITS RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM
ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS SECURITY AGREEMENT, ANY
RIGHTS OR OBLIGATIONS HEREUNDER OR THE PERFORMANCE OF ANY SUCH RIGHTS OR
OBLIGATIONS. Except as prohibited by law and absent gross negligence and willful
misconduct of the Administrative Agent or the Lenders, each of the Borrowers
waives any right which it may have to claim or recover in any litigation
referred to in the preceding sentence any special, exemplary, punitive or
consequential damages or any damages other than, or in addition to, actual
damages. Each of the Borrowers (i) certifies that neither the Administrative
Agent nor any Lender nor any representative, agent or attorney of the
Administrative Agent or any Lender has represented, expressly or otherwise, that
the Administrative Agent or any Lender would not, in the event of litigation,
seek to enforce the foregoing waivers and (ii) acknowledges that, in entering
into the Credit Agreement and the other Loan Documents to which the
Administrative Agent or any Lender is a party, the Administrative Agent and the
Lenders are relying upon, among other things, the waivers and certifications
contained in this ss.21.

         22. MISCELLANEOUS.

                  (a) The headings of each section of this Security Agreement
         are for convenience only and shall not define or limit the provisions
         thereof. This Security Agreement and all rights and obligations
         hereunder shall be binding upon each of the Borrowers and its
         respective successors and assigns, and shall inure to the benefit of
         the Administrative Agent, the Lenders and their respective successors
         and assigns. If any term of this Security Agreement shall be held to be
         invalid, illegal or unenforceable, the validity of all other terms
         hereof shall in no way be affected thereby, and this Security Agreement
         shall be construed and be enforceable as if such invalid, illegal or
         unenforceable term had not been included herein. Each of




                                       14
<PAGE>   15

         the Borrowers acknowledges receipt of a copy of this Security
         Agreement.

                  (b) To the extent this Security Agreement is inconsistent with
         or conflicts with the Credit Agreement, the Credit Agreement will
         control.










































                                       15
<PAGE>   16



         IN WITNESS WHEREOF, intending to be legally bound, each of the
Borrowers has caused this Security Agreement to be duly executed as of the date
first above written.

                                            NATIONSRENT, INC.
                                            NATIONSRENT USA, INC.
                                            NATIONSRENT TRANSPORTATION
                                               SERVICES, INC.
                                            NR DELAWARE, INC.
                                            NRGP, INC.
                                            NATIONSRENT WEST, INC.
                                            LOGAN EQUIPMENT CORP.

                                            By: /s/ Thomas C. Richardson
                                               ---------------------------------
                                               Name:  Thomas C. Richardson
                                               Title:  Vice President

                                            NATIONSRENT OF TEXAS, LP
                                            NATIONSRENT OF INDIANA, LP
                                            By: NRGP, Inc., general partner

                                            By:  /s/ Thomas C. Richardson
                                               ---------------------------------
                                               Name:  Thomas C. Richardson
                                               Title: Vice President

Accepted and Agreed:

BANKBOSTON, N.A.,
   as Administrative Agent

By: /s/ Timothy M. Laurion
   ---------------------------------
Name:  Timothy M. Laurion
Title: Director












                                       16
<PAGE>   17


STATE OF OHIO                           )
                                        )  ss.
COUNTY OF Franklin                      )

         Before me, the undersigned, a Notary Public in and for the county
aforesaid, on this ______ day of July, 1999, personally appeared Thomas C.
Richardson to me known personally, and who, being by me duly sworn, deposes and
says that he is the Vice President of each of NATIONSRENT, INC., NRGP, INC.,
NATIONSRENT WEST, INC., LOGAN EQUIPMENT CORP., NATIONSRENT TRANSPORTATION
SERVICES, INC., NR DELAWARE, INC. and NATIONSRENT USA, INC. and that said
instrument was signed on behalf of each of said entities by authority of its
Board of Directors, and said Thomas C. Richardson acknowledged said instrument
to be the free act and deed of each of said entities.

                                      ------------------------------
                                         Notary Public
                                         My commission expires:

STATE OF OHIO                           )
                                        )  ss.
COUNTY OF FRANKLIN                      )

         Before me, the undersigned, a Notary Public in and for the county
aforesaid, on this ______ day of July, 1999, personally appeared Thomas C.
Richardson to me known personally and who, being by me duly sworn, deposes and
says that he is the Vice President of NRGP, Inc., the sole general partner of
NATIONSRENT OF TEXAS, LP and NATIONSRENT OF INDIANA, LP and that said instrument
was signed on behalf of each of said entities and said Thomas C. Richardson
acknowledged said instrument to be the free act and deed of each of said
entities.

                                      ------------------------------
                                         Notary Public
                                         My commission expires:
















                                       17
<PAGE>   18

                          CERTIFICATE OF ACKNOWLEDGMENT

COMMONWEALTH OF MASSACHUSETTS             )
                                          )  ss.
COUNTY OF SUFFOLK                         )

         Before me, the undersigned, a Notary Public in and for the county
aforesaid, on this ______ day of July, 1999, personally appeared Timothy M.
Laurion to me known personally, and who, being by me duly sworn, deposes and
says that he is the Director of BANKBOSTON, N.A. and that said instrument was
signed on behalf of said lending institution by authority of its governing body,
and said Director acknowledged said instrument to be the free act and deed of
said lending institution.

                                      ------------------------------
                                         Notary Public
                                         My commission expires:































                                       18