OF ANY LOSS OF OR MATERIAL DAMAGE TO ANY COLLATERAL OR OF ANY SUBSTANTIAL
ADVERSE CHANGE, KNOWN TO DEBTORS, IN ANY COLLATERAL OR THE PROSPECT OF PAYMENT
THEREOF.
(K)
UPON REQUEST BY THE SECURED PARTY, WHETHER
SUCH REQUEST IS MADE BEFORE OR AFTER THE OCCURRENCE OF AN EVENT OF DEFAULT,
DEBTORS WILL PROMPTLY DELIVER TO THE SECURED PARTY IN PLEDGE ALL INSTRUMENTS,
DOCUMENTS AND CHATTEL PAPERS CONSTITUTING COLLATERAL, DULY ENDORSED OR ASSIGNED
BY EACH APPLICABLE DEBTOR.
(L)
EACH DEBTOR WILL AT ALL TIMES KEEP ITS
BUSINESS AND ALL TANGIBLE COLLATERAL INSURED AGAINST RISKS OF FIRE (INCLUDING
SO-CALLED EXTENDED COVERAGE), THEFT, COLLISION (FOR COLLATERAL CONSISTING OF
MOTOR VEHICLES) AND SUCH OTHER RISKS AND IN SUCH AMOUNTS AS THE SECURED PARTY
MAY REASONABLY REQUEST, WITH A SECURED PARTY'S LOSS PAYEE ENDORSEMENT TO THE
SECURED PARTY TO THE EXTENT OF ITS INTEREST.
(M)
DEBTORS WILL PAY OR REIMBURSE THE SECURED
PARTY ON DEMAND FOR ALL COSTS OF COLLECTION OF ANY OF THE OBLIGATIONS AND ALL
OTHER OUT-OF-POCKET EXPENSES (INCLUDING IN EACH CASE ALL REASONABLE ATTORNEYS'
FEES AND LEGAL EXPENSES) INCURRED BY THE SECURED PARTY IN CONNECTION WITH THE
CREATION, PERFECTION, PROTECTION, SATISFACTION, FORECLOSURE OR ENFORCEMENT OF
THE SECURITY INTERESTS OR THE CREATION, CONTINUANCE OR ENFORCEMENT OF THIS
AGREEMENT OR ANY OR ALL OF THE OBLIGATIONS.
(N)
DEBTORS WILL USE AND KEEP THE COLLATERAL,
AND WILL REQUIRE THAT OTHERS USE AND KEEP THE COLLATERAL, ONLY FOR LAWFUL
PURPOSES, WITHOUT VIOLATION OF ANY FEDERAL, STATE OR LOCAL LAW, STATUTE OR
ORDINANCE.
(O)
FOR ALL ITEMS OF EQUIPMENT CURRENTLY COVERED
BY CERTIFICATES OF TITLE ISSUED BY ANY STATE ("TITLED VEHICLES"), IF ANY, THE
DEBTORS SHALL TAKE ALL STEPS NECESSARY TO HAVE THE SECURED PARTY'S SECURITY
INTEREST PERFECTED IN COMPLIANCE WITH THE APPLICABLE LAWS OF EACH SUCH STATE AND
SHALL DELIVER THE ORIGINAL CERTIFICATES OF TITLE OR OTHER SATISFACTORY EVIDENCE
OF THE SECURED PARTY'S SECURITY INTEREST TO THE SECURED PARTY PROMPTLY UPON
REQUEST.
THE DEBTORS SHALL NOT OBTAIN A NEW OR DUPLICATE CERTIFICATE OF TITLE
FOR ANY OF THE TITLED VEHICLES WITHOUT THE SECURED PARTY'S CONSENT, AND THEN
ONLY IF THE SECURED PARTY IS SHOWN UPON THE NEW CERTIFICATE OF TITLE AS HOLDING
A FIRST PRIORITY SECURITY INTEREST IN SAID TITLED VEHICLE.
(P)
DEBTORS FROM TIME TO TIME WILL EXECUTE AND
DELIVER OR ENDORSE ANY AND ALL INSTRUMENTS, DOCUMENTS, CONVEYANCES, ASSIGNMENTS,
SECURITY AGREEMENTS, FINANCING STATEMENTS AND OTHER AGREEMENTS AND WRITINGS
WHICH THE SECURED PARTY MAY REASONABLY REQUEST IN ORDER TO SECURE, PROTECT,
PERFECT OR ENFORCE THE SECURITY INTERESTS OR THE RIGHTS OF THE SECURED PARTY
UNDER THIS AGREEMENT (BUT ANY FAILURE TO REQUEST OR ASSURE THAT DEBTOR EXECUTES,
DELIVERS OR ENDORSES ANY SUCH ITEM SHALL NOT AFFECT OR IMPAIR THE VALIDITY,
SUFFICIENCY OR ENFORCEABILITY OF THIS AGREEMENT AND THE
SECURITY INTERESTS, REGARDLESS OF WHETHER ANY SUCH ITEM WAS OR WAS NOT EXECUTED,
DELIVERED OR ENDORSED IN A SIMILAR CONTEXT OR ON A PRIOR OCCASION).
If either Debtor at any time fails to perform or observe any of the foregoing
agreements, and if such failure shall continue