THE GRANTOR TO THE SECURED PARTY; (VIII) AT ALL TIMES KEEP ALL COLLATERAL
INSURED AGAINST RISKS OF FIRE (INCLUDING SO CALLED EXTENDED COVERAGE), THEFT,
COLLISION (IN CASE OF COLLATERAL CONSISTING OF MOTOR VEHICLES) AND SUCH OTHER
RISKS AS IS APPROPRIATE FOR A BUSINESS OF THIS TYPE; (IX) FROM TIME TO TIME
PROMPTLY EXECUTE AND DELIVER SUCH FINANCING STATEMENTS OR OTHER FORMS,
INCLUDING, WITHOUT LIMITATION, PATENT AND TRADEMARK RECORDATION FORMS, AS THE
SECURED PARTY MAY REASONABLY DEEM REQUIRED TO BE FILED IN ORDER TO PERFECT OR
MAINTAIN THE PERFECTION OF THE SECURITY INTEREST AND, IF ANY COLLATERAL IS
COVERED BY A CERTIFICATE OF TITLE, EXECUTE SUCH DOCUMENTS AS MAY BE REQUIRED TO
HAVE THE SECURITY INTEREST PROPERLY NOTED ON A CERTIFICATE OF TITLE; (X) PAY
WHEN DUE OR REIMBURSE THE SECURED PARTY ON DEMAND FOR ALL COSTS OF
3
COLLECTION OF ANY OF THE SECURED OBLIGATIONS AND ALL OTHER OUT-OF-POCKET
EXPENSES (INCLUDING IN EACH CASE ALL ATTORNEYS' FEES) INCURRED BY THE SECURED
PARTY IN CONNECTION WITH THE ENFORCEMENT OF THE SECURITY INTEREST OR THE
ENFORCEMENT OF THIS AGREEMENT OR ANY OR ALL OF THE SECURED OBLIGATIONS INCLUDING
EXPENSES INCURRED IN ANY LITIGATION OR BANKRUPTCY OR INSOLVENCY PROCEEDINGS;
(XI) PROMPTLY EXECUTE, DELIVER OR ENDORSE ANY AND ALL INSTRUMENTS, DOCUMENTS,
ASSIGNMENTS, SECURITY AGREEMENTS AND OTHER AGREEMENTS AND WRITINGS WHICH THE
SECURED PARTY MAY AT ANY TIME REASONABLY REQUEST IN ORDER TO SECURE, PROTECT,
PERFECT OR ENFORCE THE SECURITY INTEREST AND THE SECURED PARTY'S RIGHTS UNDER
THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, AN ASSIGNMENT OF CLAIM WITH
RESPECT TO ANY ACCOUNT WHICH IS A GOVERNMENT RECEIVABLE; (XII) NOT USE OR KEEP
ANY COLLATERAL, OR PERMIT IT TO BE USED OR KEPT, FOR ANY UNLAWFUL PURPOSE OR IN
VIOLATION OF ANY FEDERAL, STATE OR LOCAL LAW, STATUTE OR ORDINANCE; (XIII)
PERMIT THE SECURED PARTY AT ANY TIME AND FROM TIME TO TIME TO SEND REQUESTS
(BOTH BEFORE AND AFTER THE OCCURRENCE OF AN EVENT OF DEFAULT UNDER THE LOAN
AGREEMENT) TO ACCOUNT DEBTORS OR OTHER OBLIGORS FOR VERIFICATION OF AMOUNTS OWED
TO GRANTOR; (XIV) NOT PERMIT ANY COLLATERAL TO BECOME PART OF OR TO BE AFFIXED
TO ANY REAL PROPERTY, WITHOUT FIRST ASSURING TO THE REASONABLE SATISFACTION OF
THE SECURED PARTY THAT THE SECURITY INTEREST WILL BE PRIOR AND SENIOR TO ANY
INTEREST OR LIEN THEN HELD OR THEREAFTER ACQUIRED BY ANY MORTGAGEE OF SUCH REAL
PROPERTY OR THE OWNER OR PURCHASER OF ANY INTEREST THEREIN; AND (XV) NOT WIND UP
OR DISSOLVE ITSELF (OR SUFFER ANY LIQUIDATION OR DISSOLUTION).
IF THE GRANTOR
AT ANY TIME FAILS TO PERFORM OR OBSERVE ANY AGREEMENT CONTAINED IN THIS
SECTION 2(I), AND IF SUCH FAILURE SHALL CONTINUE FOR A PERIOD OF TEN
(10) CALENDAR DAYS AFTER THE SECURED PARTY GIVES THE GRANTOR WRITTEN NOTICE
THEREOF (OR, IN THE CASE OF THE AGREEMENTS CONTAINED IN CLAUSES (VIII) AND
(IX) OF THIS SECTION 2(I), IMMEDIATELY UPON THE OCCURRENCE OF SUCH FAILURE,
WITHOUT NOTICE OR LAPSE OF TIME) THE SECURED PARTY MAY (BUT NEED NOT) PERFORM OR
OBSERVE SUCH AGREEMENT ON