Document:

<PAGE>   1
                                                                Exhibit 4.3
                          REGISTRATION RIGHTS AGREEMENT

                  THIS REGISTRATION RIGHTS AGREEMENT, dated as of August 11,
2000 (this "Agreement"), is made by and between TITAN MOTORCYCLE CO. OF AMERICA,
a Nevada corporation, with headquarters located at 2222 West Peoria Avenue,
Phoenix, AZ 85029 (the "Company"), and each entity named on a signature page
hereto (each, an "Initial Investor") (each agreement with an Initial Investor
being deemed a separate and independent agreement between the Company and such
Initial Investor, except that each Initial Investor acknowledges and consents to
the rights granted to each other Initial Investor under such agreement).

                              W I T N E S S E T H:

                  WHEREAS, upon the terms and subject to the conditions of the
Securities Purchase Agreement, dated as of August 11, 2000, between the Initial
Investor and the Company (the "Securities Purchase Agreement"), the Company has
agreed to issue and sell to the Initial Investor one or more 12% Secured
Convertible Debentures of the Company, in an aggregate principal amount of
$750,000 (the "Debentures"); and

                  WHEREAS, the Company has agreed to issue the Warrants to the
Initial Investor in connection with the issuance of the Debentures; and

                  WHEREAS, the Debentures are convertible into shares of Common
Stock (the "Converted Shares"; which term, for purposes of this Agreement, shall
include (x) shares of Common Stock of the Company issuable in lieu of accrued
interest on the Debentures through the Maturity Date of the Debentures and (y)
Periodic Amount Shares, as defined below) upon the terms and subject to the
conditions contained in the Debentures and the other Transaction Agreements, and
the Warrants may be exercised for the purchase of shares of Common Stock (the
"Warrant Shares") upon the terms and conditions of the Warrants; and

                  WHEREAS, to induce the Initial Investor to execute and deliver
the Securities Purchase Agreement, the Company has agreed to provide certain
registration rights under the Securities Act of 1933, as amended, and the rules
and regulations thereunder, or any similar successor statute (collectively, the
"Securities Act"), with respect to the Converted Shares and the Warrant Shares;

                  NOW, THEREFORE, in consideration of the premises and the
mutual covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and the
Initial Investor hereby agree as follows:

                  - DEFINITIONS. Capitalized terms not otherwise defined herein
shall have the meanings ascribed to them in the Securities Purchase Agreement.
As used in this Agreement, the following terms shall have the following
meanings:
<PAGE>   2
                  (i) "Effective Date" means the date the SEC declares a
Registration Statement covering Registrable Securities and otherwise meeting the
conditions contemplated hereby to be effective.

                  (ii) "Investor" means the Initial Investor and any permitted
transferee or assignee who agrees to become bound by the provisions of this
Agreement in accordance with Section 9 hereof and who holds Debentures, Warrants
or Registrable Securities.

                  (iii) "Potential Material Event" means any of the following:
(i) the possession by the Company of material information not ripe for
disclosure in a registration statement, which shall be evidenced by
determinations in good faith by the Board of Directors of the Company that
disclosure of such information in the registration statement would be
detrimental to the business and affairs of the Company; or (ii) any material
engagement or activity by the Company which would, in the good faith
determination of the Board of Directors of the Company, be adversely affected by
disclosure in a registration statement at such time, which determination shall
be accompanied by a good faith determination by the Board of Directors of the
Company that the registration statement would be materially misleading absent
the inclusion of such information.

                  (iv) "Register," "Registered," and "Registration" refer to a
registration effected by preparing and filing a Registration Statement or
Statements in compliance with the Securities Act and pursuant to Rule 415 under
the Securities Act or any successor rule providing for offering securities on a
continuous basis ("Rule 415"), and the declaration or ordering of effectiveness
of such Registration Statement by the United States Securities and Exchange
Commission (the "SEC").

                  (v) "Registrable Securities" means the Converted Shares and
the Warrant Shares.

                  (vi) "Registration Statement" means a registration statement
of the Company under the Securities Act covering Registrable Securities on Form
S-3, if the Company is then eligible to file using such form, and if not so
eligible, on Form SB-2 or other appropriate form.

                  (vii) "Required Effective Date" means the relevant Initial
Required Effective Date or Increased Required Effective Date (as those terms are
defined below).

                  -        REGISTRATION.

                  ()       MANDATORY REGISTRATION.

<PAGE>   3
                  (i) The Company shall prepare and file with the SEC, as soon
as possible after the Closing Date but no later than a date (the "Required
Filing Date") which is thirty (30) days after the Closing Date, either a
Registration Statement or an amendment to an existing Registration Statement,
registering for resale by the Investor a sufficient number of shares of Common
Stock for the Initial Investors to sell the Registrable Securities, but in no
event less than the number of shares equal to the sum of (A) two hundred percent
(200%) of the aggregate number of shares into which the Debentures and all
interest thereon through the Maturity Date would be convertible at the time of
filing of such Registration Statement (assuming for such purposes that all
Debentures had been eligible to be converted, and had been converted, into
Converted Shares in accordance with their terms, whether or not such accrual of
interest, eligibility or conversion had in fact occurred as of such date) and
(B) the number of shares which would be issued upon exercise of all of the
Warrants (assuming for such purposes that all Warrants were eligible to be
exercised and had been exercised in accordance with their terms, whether or not
such eligibility or exercise had in fact occurred as of such date) (or such
lesser number as may be required by the SEC). The Registration Statement (W)
shall include only the Registrable Securities and the shares specifically listed
on EXHIBIT 1 annexed hereto, and (X) shall state that, in accordance with Rule
416 and 457 under the Securities Act, it also covers such indeterminate number
of additional shares of Common Stock as may become issuable upon conversion of
the Debentures and the exercise of the Warrants to prevent dilution resulting
from stock splits or stock dividends. The Company will use its reasonable best
efforts to cause such Registration Statement to be declared effective on a date
(the "Initial Required Effective Date") which is no later than the earlier of
(Y) five (5) days after oral or written notice by the SEC that it may be
declared effective or (Z) one hundred twenty (120) days after the Closing Date.

                  (ii) If at any time (an "Increased Registered Shares Date"),
the number of shares of Common Stock represented by the Registrable Shares,
issued or to be issued as contemplated by the Transaction Agreements, exceeds
the aggregate number of shares of Common Stock then registered, the Company
shall either (X) amend the relevant Registration Statement filed by the Company
pursuant to the preceding provisions of this Section 2, if such Registration
Statement has not been declared effective by the SEC at that time, to register,
in the aggregate, at least the number of shares (the "Increased Shares Amount")
equal to (A) (I) the number of shares previously issued on conversion of the
Debentures (including any Converted Shares issued in lieu of cash interest) plus
(II) two hundred percent (200%) of the number of shares into which the
unconverted Debentures and all interest thereon through the Maturity Date would
be convertible at the Increased Registered Shares Date (assuming for such
purposes that all such Debentures had been eligible to be converted, and had
been converted, into Converted Shares in accordance with their terms, whether or
not such accrual of interest, eligibility or conversion had in fact occurred as
of such date) and (B) the number of shares which would be issued upon exercise
of all of the Warrants (assuming for such purposes that all Warrants had been
eligible to be exercised and had been exercised in accordance with their terms,
whether or not such issuance, eligibility or exercise had in fact occurred as of
such date), or (Y) if such Registration Statement has been declared effective by
the SEC at that time, file with the SEC an additional Registration Statement (an
"Additional Registration Statement") to register the number of shares equal to
two hundred percent (200%) of the excess of the Increased Shares Amount over the
aggregate number of shares of Common Stock already registered. The
<PAGE>   4
Company will use its reasonable best efforts to cause such Registration
Statement to be declared effective on a date (each, an "Increased Required
Effective Date") which is no later than (Q) with respect to a Registration
Statement under clause (X) of this subparagraph (ii), the Initial Required
Effective Date and (R) with respect to an Additional Registration Statement, the
earlier of (I) five (5) days after notice by the SEC that it may be declared
effective or (II) thirty (30) days after the Increased Registered Shares Date.

                  ()       PAYMENTS BY THE COMPANY.

                           (i)      If the Registration  Statement covering the
Registrable Securities is not filed in proper form with the SEC by the Required
Filing Date, the Company will make payment to the Initial Investor in such
amounts and at such times as shall be determined pursuant to this Section 2(b).

                           (ii)     If the  Registration  Statement  covering
the Registrable Securities is not effective by the relevant Required Effective
Date or if the Investor is restricted from making sales of Registrable
Securities covered by any previously effective Registration Statement at any
time (the date such restriction commences, a "Restricted Sale Date") after the
Effective Date other than during a Permitted Suspension Period (as defined
below), then the Company will make payments to the Initial Investor in such
amounts and at such times as shall be determined pursuant to this Section 2(b).

                           (iii) The amount (the "Periodic Amount") to be paid
by the Company to the Initial Investor shall be determined as of each
Computation Date (as defined below) and such amount shall be equal to the
Periodic Amount Percentage (as defined below) of the Purchase Price for all
Debentures for the period from the date following the relevant Required
Effective Date or Restricted Sale Date, as the case may be, to the first
relevant Computation Date, and thereafter to each subsequent Computation Date.
The "Periodic Amount Percentage" means (A)for the period beginning on the date
following the relevant Required Filing Date, Required Effective Date or
Restricted Sale Date, as the case may be, and continuing to the first relevant
Computation Date, one percent (1%) of the Purchase Price of all Debentures, and
(B) thereafter, for each period beginning on the first day after the immediately
preceding Computation Date and continuing to the immediately following
Computation Date, two percent (2%) of the Purchase Price of all Debentures. By
way of illustration and not in limitation of the foregoing, if the Registration
Statement is not declared effective until one hundred sixty-five (165) days
after the Closing Date, the Periodic Amount will aggregate five percent (5%) of
the Purchase Price of the Debentures (1% for days 91-120, plus 2% for days
121-150, plus 2% for days 151-165).

                           (iv) Each Periodic Amount will be payable by the
Company, except as provided in the other provisions of this subparagraph (iv),
in cash or other immediately available funds to the Investor (1) on the day
after the Required Filing Date or the Required Effective Date, as the case may
be, and (2) on the earlier of (A) each thirtieth day thereafter, (B) the third
business day after the date the Registration Statement is filed or is declared
effective, or (C) the third business day after the Registration Statement has
its restrictions removed after the Effective Date, as the case may be, in each
case without requiring demand therefor by the Investor.
<PAGE>   5
Notwithstanding the provisions of the first sentence of this subparagraph (iv),
at the option of the Investor, exercisable in its sole and absolute discretion
by written notice to the Company at any time before the Periodic Amount is paid
(a "Periodic Amount Shares Notice"), all or a portion of the Periodic Amount
shall be paid by the issuance to the Investor of additional shares of Common
Stock ("Periodic Amount Shares"). The number of Periodic Amount Shares shall be
equal to the relevant Periodic Amount divided by the Conversion Price which
would have been applicable to the first day after the relevant Computation Date,
but only to the extent that the Investor would have been entitled to effect a
conversion into such number of shares in accordance with the terms of the
Debentures and the Securities Purchase Agreement (without regard to any notices
or other administrative steps to be taken by the Investor). The Company must
deliver the Periodic Amount Shares to the Investor within three (3) business
days after the Investor issues the Periodic Amount Shares Notice, unless
otherwise agreed to in writing by the Investor in each instance (such third date
or later date agreed to by the Investor, a "Delivery Date" as contemplated by
the Debentures and the Securities Purchase Agreement). If the Periodic Amount
Shares are not delivered by such date, the Investor shall have the right to
demand that the provisions of Section 5(c) of the Securities Purchase Agreement
shall apply to such issuance, based on one hundred forty-five percent (145%) of
the Periodic Amount or having the Periodic Amount be paid in cash as
contemplated herein. On issuance, Periodic Amount Shares are deemed to be
Registrable Securities.

                           (v)      The parties  acknowledge that the damages
which may be incurred by the Investor if the Registration Statement is not filed
by the Required Filing Date or if the Registration Statement has not been
declared effective by a Required Effective Date, including if the right to sell
Registrable Securities under a previously effective Registration Statement is
suspended, may be difficult to ascertain. The parties agree that the Periodic
Amounts represent a reasonable estimate on the part of the parties, as of the
date of this Agreement, of the amount of such damages.

                           (vi)     Notwithstanding  the foregoing,  the amounts
payable by the Company pursuant to this provision shall not be payable (i) to
the extent any delay in the effectiveness of the Registration Statement occurs
because of an act of, or a failure to act or to act timely by the Initial
Investor or its counsel, (ii) in the event all of the Registrable Securities may
be sold pursuant to Rule 144 or another available exemption under the Act
without volume or other restrictions or limits or (iii) with respect to a
Permitted Suspension Period.

                           (vii)    "Computation  Date"  means (A) the date
which is the earlier of (1) thirty (30) days after the Required Filing Date, any
relevant Required Effective Date or a Restricted Sale Date, as the case may be,
or (2) the date after the Required Filing Date, such Required Effective Date or
Restricted Sale Date on which the Registration Statement is filed (with respect
to payments due as contemplated by Section 2(b)(i) hereof) or is declared
effective or has its restrictions removed (with respect to payments due as
contemplated by Section 2(b)(ii) hereof), as the case may be, and (B) each date
which is the earlier of (1) thirty (30) days after the previous Computation Date
or (2) the date after the previous Computation Date on which the Registration
Statement is filed (with respect to payments due as contemplated by Section
2(b)(i) hereof) or is declared effective or has its restrictions removed (with
respect to payments due as contemplated by Section 2(b)(ii) hereof), as the case
may be.

<PAGE>   6

                  -        OBLIGATIONS  OF THE COMPANY.  In connection  with the
registration of the Registrable Securities, the Company shall do each of the
following:

                  () Prepare promptly, and file with the SEC by the Required
Filing Date a Registration Statement with respect to not less than the number of
Registrable Securities provided in Section 2(a) above, and thereafter use its
reasonable best efforts to cause such Registration Statement relating to
Registrable Securities to become effective by the Required Effective Date and
keep the Registration Statement effective at all times during the period (the
"Registration Period") continuing until the earliest of (i) the date that is the
third anniversary of the Effective Date, (ii) the date when the Investors may
sell all Registrable Securities under Rule 144 without volume or other
restrictions or limits or (iii) the date the Investors no longer own any of the
Registrable Securities, which Registration Statement (including any amendments
or supplements thereto and prospectuses contained therein) shall not contain any
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in light of the
circumstances in which they were made, not misleading;

                  (b) Prepare and file with the SEC such amendments (including
post-effective amendments) and supplements to the Registration Statement and the
prospectus used in connection with the Registration Statement as may be
necessary to keep the Registration Statement effective at all times during the
Registration Period, and, during the Registration Period, comply with the
provisions of the Securities Act with respect to the disposition of all
Registrable Securities of the Company covered by the Registration Statement
until such time as all of such Registrable Securities have been disposed of in
accordance with the intended methods of disposition by the seller or sellers
thereof as set forth in the Registration Statement;

                  (c) Permit a single firm of counsel designated by the Initial
Investors to review the Registration Statement and all amendments and
supplements thereto a reasonable period of time (but not less than three (3)
business days) prior to their filing with the SEC, and not file any document in
a form to which such counsel reasonably objects;

                  (d) Notify each Investor and such Investor's legal counsel
identified to the Company and which has requested by written notice to the
Company that it receive such notification (which, until further notice, shall be
deemed to be Krieger & Prager LLP, Attn: Samuel Krieger, Esq., which firm has
requested to receive such notification) (each, an "Investor's Counsel"), and any
managing underwriters immediately (and, in the case of (i)(A) below, not less
than three (3) business days prior to such filing) and (if requested by any such
person) confirm such notice in writing no later than one (1) business day
following the day (i)(A) when a Prospectus or any Prospectus supplement or
post-effective amendment to the Registration Statement including changes in the
provisions relating to the Investor, the Registrable Securities, or the
transactions reflected in the Transaction Agreements (collectively, "Investor
Matters") is submitted to the SEC for its consideration or review; (B) whenever
the SEC notifies the Company whether there will be a "review" of such
Registration Statement; (C) whenever the Company receives (or a representative
of the Company receives on its behalf) any oral or written comments from the SEC
in respect of a Registration Statement (copies or, in the
<PAGE>   7
case of oral comments, summaries of such comments shall be promptly furnished by
the Company to the Investors); and (D) with respect to the Registration
Statement or any post-effective amendment, when the same has become effective;
(ii) of any request by the SEC or any other Federal or state governmental
authority for amendments or supplements to the Registration Statement or
Prospectus or for additional information; (iii) of the issuance by the SEC of
any stop order suspending the effectiveness of the Registration Statement
covering any or all of the Registrable Securities or the initiation of any
proceedings for that purpose; (iv) of the receipt by the Company of any
notification with respect to the suspension of the qualification or exemption
from qualification of any of the Registrable Securities for sale in any
jurisdiction, or the initiation or threatening of any proceeding for such
purpose; and (v) of the occurrence of any event that to the best knowledge of
the Company makes any statement made in the Registration Statement or Prospectus
or any document incorporated or deemed to be incorporated therein by reference
untrue in any material respect or that requires any revisions to the
Registration Statement, Prospectus or other documents so that, in the case of
the Registration Statement or the Prospectus, as the case may be, it will not
contain any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading. In
addition, the Company shall furnish the Investor's Counsel with copies of all
intended written responses to the comments contemplated in clause (C) of this
Section 3(d) to the extent such responses relate to Investor Matters not later
than one (1) business day in advance of the filing of such responses with the
SEC so that the Investors shall have the opportunity to comment thereon;

                  (e) Furnish to each Investor and such Investor's Counsel (i)
promptly after the same is prepared and publicly distributed, filed with the
SEC, or received by the Company, one (1) copy of the Registration Statement,
each preliminary prospectus and prospectus, and each amendment or supplement
thereto, and (ii) such number of copies of a prospectus, and all amendments and
supplements thereto and such other documents, as such Investor may reasonably
request in order to facilitate the disposition of the Registrable Securities
owned by such Investor;

                  (f) As promptly as practicable after becoming aware thereof,
notify each Investor of the happening of any event of which the Company has
knowledge, as a result of which the prospectus included in the Registration
Statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were
made, not misleading, and use its best efforts promptly to prepare a supplement
or amendment to the Registration Statement or other appropriate filing with the
SEC to correct such untrue statement or omission, and deliver a number of copies
of such supplement or amendment to each Investor as such Investor may reasonably
request;

                  (g) As promptly as practicable after becoming aware thereof,
notify each Investor who holds Registrable Securities being sold (or, in the
event of an underwritten offering, the managing underwriters) of the issuance by
the SEC of a Notice of Effectiveness or any notice of effectiveness or any stop
order or other suspension of the effectiveness of the Registration Statement at
the earliest possible time;
<PAGE>   8
                  (h) Notwithstanding the foregoing, if at any time or from time
to time after the date of effectiveness of the Registration Statement, the
Company notifies the Investors in writing of the existence of a Potential
Material Event, the Investors shall not offer or sell any Registrable
Securities, or engage in any other transaction involving or relating to the
Registrable Securities, from the time of the giving of notice with respect to a
Potential Material Event until such Investor receives written notice from the
Company that such Potential Material Event either has been disclosed to the
public or no longer constitutes a Potential Material Event; provided, however,
that the Company may not so suspend the right to such holders of Registrable
Securities during the periods the Registration Statement is required to be in
effect other than during a Permitted Suspension Period (and the applicable
provisions of Section 2(b) shall apply with respect to any such suspension other
than during a Permitted Suspension Period) . The term "Permitted Suspension
Period" means one or more such suspension periods during any consecutive
12-month period, which suspension periods, in the aggregate, do not exceed
twenty (20) days, provided, however, that no one such suspension period shall
begin less than ten (10) business days after the last day of the preceding
suspension (whether or not such last day was during or after a Permitted
Suspension Period). ;

                  (i) Use its reasonable efforts to secure and maintain the
designation of all the Registrable Securities covered by the Registration
Statement on the "Nasdaq/SmallCap Market" of the National Association of
Securities Dealers Automated Quotations System ("NASDAQ") within the meaning of
Rule 11Aa2-1 of the SEC under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), and the quotation of the Registrable Securities on The
Nasdaq/SmallCap Market; and, without limiting the generality of the foregoing,
to arrange for at least two market makers to register with the National
Association of Securities Dealers, Inc. as such with respect to such Registrable
Securities;

                  (j) Provide a transfer agent and registrar, which may be a
single entity, for the Registrable Securities not later than the Effective Date
of the Registration Statement;

                  (k) Cooperate with the Investors who hold Registrable
Securities being offered to facilitate the timely preparation and delivery of
certificates for the Registrable Securities to be offered pursuant to the
Registration Statement and enable such certificates for the Registrable
Securities to be in such denominations or amounts as the case may be, as the
Investors may reasonably request, and, within three (3) business days after a
Registration Statement which includes Registrable Securities is ordered
effective by the SEC, the Company shall deliver, and shall cause legal counsel
selected by the Company to deliver, to the transfer agent for the Registrable
Securities (with copies to the Investors whose Registrable Securities are
included in such Registration Statement) an appropriate instruction and opinion
of such counsel; and

                  (l) Take all other reasonable actions necessary to expedite
and facilitate disposition by the Investor of the Registrable Securities
pursuant to the Registration Statement.

                  - OBLIGATIONS OF THE INVESTORS. In connection with the
registration of the Registrable Securities, the Investors shall have the
following obligations:

<PAGE>   9
                  () It shall be a condition precedent to the obligations of the
Company to complete the registration pursuant to this Agreement with respect to
the Registrable Securities of a particular Investor that such Investor shall
furnish to the Company such information regarding itself, the Registrable
Securities held by it, and the intended method of disposition of the Registrable
Securities held by it, as shall be reasonably required to effect the
registration of such Registrable Securities and shall execute such documents in
connection with such registration as the Company may reasonably request. At
least ten (10) days prior to the first anticipated filing date of the
Registration Statement, the Company shall notify each Investor of the
information the Company requires from each such Investor (the "Requested
Information") if such Investor elects to have any of such Investor's Registrable
Securities included in the Registration Statement. If at least two (2) business
days prior to the filing date the Company has not received the Requested
Information from an Investor (a "Non-Responsive Investor"), then the Company may
file the Registration Statement without including Registrable Securities of such
Non-Responsive Investor;

                  () Each Investor, by such Investor's acceptance of the
Registrable Securities, agrees to cooperate with the Company as reasonably
requested by the Company in connection with the preparation and filing of the
Registration Statement hereunder, unless such Investor has notified the Company
in writing of such Investor's election to exclude all of such Investor's
Registrable Securities from the Registration Statement; and

                  () Each Investor agrees that, upon receipt of any notice from
the Company of the happening of any event of the kind described in Section 3(f),
3(g) of 3(h), above, such Investor will immediately discontinue disposition of
Registrable Securities pursuant to the Registration Statement covering such
Registrable Securities until such Investor's receipt of the copies of the
supplemented or amended prospectus contemplated by Section 3(f), 3(g) of 3(h),
and, if so directed by the Company, such Investor shall deliver to the Company
(at the expense of the Company) or destroy (and deliver to the Company a
certificate of destruction) all copies in such Investor's possession, of the
prospectus covering such Registrable Securities current at the time of receipt
of such notice.

                  -        EXPENSES OF REGISTRATION.

                  (a) All reasonable expenses (other than underwriting discounts
and commissions of the Investor) incurred in connection with registrations,
filings or qualifications pursuant to Section 3, but including, without
limitation, all registration, listing, and qualifications fees, printers and
accounting fees, the fees and disbursements of counsel for the Company shall be
borne by the Company. In addition, a fee for a single counsel for the Investors
(as a group and not individually) equal to $3,500 for the initial Registration
Statement and $2,000 for each post-effective amendment to an effective
Registration Statement, shall be borne by the Company.

<PAGE>   10

                  (b) Except as disclosed in the Company's SEC Documents, (i)
neither the Company nor any of its subsidiaries has entered into, as of the date
hereof, nor shall the Company nor any of its subsidiaries, on or after the date
of this Agreement, enter into, any agreement with respect to its securities that
is inconsistent with the rights granted to the Investors in this Agreement or
otherwise conflicts with the provisions hereof and (ii) neither the Company nor
any of its subsidiaries has previously entered into any agreement granting any
registration rights with respect to any of its securities to any person. Without
limiting the generality of the foregoing, without the written consent of the
Investors holding a sixty-seven (67%) percent interest of the Registrable
Securities (as calculated by the then outstanding principal amount of the
Debentures without any reference to the Warrant Shares), the Company shall not
grant to any person the right to request the Company to register any securities
of the Company under the Securities Act.

                  - INDEMNIFICATION. In the event any Registrable Securities are
included in a Registration Statement under this Agreement:

                  () To the extent permitted by law, the Company will indemnify
and hold harmless each Investor who holds such Registrable Securities, the
directors, if any, of such Investor, the officers, if any, of such Investor,
each person, if any, who controls any Investor within the meaning of the
Securities Act or the Exchange Act (each, an "Indemnified Person" or
"Indemnified Party"), against any losses, claims, damages, liabilities or
expenses (joint or several) incurred (collectively, "Claims") to which any of
them may become subject under the Securities Act, the Exchange Act or otherwise,
insofar as such Claims (or actions or proceedings, whether commenced or
threatened, in respect thereof) arise out of or are based upon any of the
following statements, omissions or violations in the Registration Statement, or
any post-effective amendment thereof, or any prospectus included therein: (i)
any untrue statement or alleged untrue statement of a material fact contained in
the Registration Statement or any post-effective amendment thereof or the
omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading, (ii)
any untrue statement or alleged untrue statement of a material fact contained in
the final prospectus (as amended or supplemented, if the Company files any
amendment thereof or supplement thereto with the SEC) or the omission or alleged
omission to state therein any material fact necessary to make the statements
made therein, in light of the circumstances under which the statements therein
were made, not misleading or (iii) any violation or alleged violation by the
Company of the Securities Act, the Exchange Act, any state securities law or any
rule or regulation under the Securities Act, the Exchange Act or any state
securities law (the matters in the foregoing clauses (i) through (iii) being,
collectively, "Violations"). Subject to clause (b) of this Section 6, the
Company shall reimburse the Investors, promptly as such expenses are incurred
and are due and payable, for any legal fees or other reasonable expenses
incurred by them in connection with investigating or defending any such Claim.
Notwithstanding anything to the contrary contained herein, the indemnification
agreement contained in this Section 6(a) shall not (I) apply to a Claim arising
out of or based upon a Violation which occurs in reliance upon and in conformity
with information furnished in writing to the Company by or on behalf of any
Indemnified Person expressly for use in connection with the preparation of the
Registration Statement or any such amendment thereof or supplement thereto,
after such prospectus was made available by the Company pursuant to Section 3(c)
hereof; (II) be available to the extent such Claim is based on
<PAGE>   11
a failure of the Investor to deliver or cause to be delivered the prospectus
made available by the Company or the amendment or supplement thereto made
available by the Company; (III) be available to the extent such Claim is based
on the delivery of a prospectus by the Investor after receiving notice from the
Company under Section 3(f), (g) or (h) hereof (other than a notice regarding the
effectiveness of the Registration Statement or any amendment or supplement
thereto), or (IV) apply to amounts paid in settlement of any Claim if such
settlement is effected without the prior written consent of the Company, which
consent shall not be unreasonably withheld or delayed. Each Investor will
indemnify the Company and its officers, directors and agents (each, an
"Indemnified Person" or "Indemnified Party") against any claims arising out of
or based upon a Violation which occurs in reliance upon and in conformity with
information furnished in writing to the Company, by or on behalf of such
Investor, expressly for use in connection with the preparation of the
Registration Statement or the amendment or supplement thereto, or resulting from
a failure of the Investor to deliver or cause to be delivered the prospectus
made available by the Company or the amendment or supplement thereto made
available by the Company, subject to such limitations and conditions as are
applicable to the indemnification provided by the Company to this Section 6.
Such indemnity shall remain in full force and effect regardless of any
investigation made by or on behalf of the Indemnified Person and shall survive
the transfer of the Registrable Securities by the Investors pursuant to Section
9.

                  () Promptly after receipt by an Indemnified Person or
Indemnified Party under this Section 6 of notice of the commencement of any
action (including any governmental action), such Indemnified Person or
Indemnified Party shall, if a Claim in respect thereof is to be made against any
indemnifying party under this Section 6, deliver to the indemnifying party a
written notice of the commencement thereof and the indemnifying party shall have
the right to participate in, and, to the extent the indemnifying party so
desires, jointly with any other indemnifying party similarly noticed, to assume
control of the defense thereof with counsel mutually satisfactory to the
indemnifying party and the Indemnified Person or the Indemnified Party, as the
case may be. In case any such action is brought against any Indemnified Person
or Indemnified Party, and it notifies the indemnifying party of the commencement
thereof, the indemnifying party will be entitled to participate in, and, to the
extent that it may wish, jointly with any other indemnifying party similarly
notified, assume the defense thereof, subject to the provisions herein stated
and after notice from the indemnifying party to such Indemnified Person or
Indemnified Party of its election so to assume the defense thereof, the
indemnifying party will not be liable to such Indemnified Person or Indemnified
Party under this Section 6 for any legal or other reasonable out-of-pocket
expenses subsequently incurred by such Indemnified Person or Indemnified Party
in connection with the defense thereof other than reasonable costs of
investigation, unless the indemnifying party shall not pursue the action to its
final conclusion. The Indemnified Person or Indemnified Party shall have the
right to employ separate counsel in any such action and to participate in the
defense thereof, but the fees and reasonable out-of-pocket expenses of such
counsel shall not be at the expense of the indemnifying party if the
indemnifying party has assumed the defense of the action with counsel reasonably
satisfactory to the Indemnified Person or Indemnified Party provided such
counsel is of the opinion that all defenses available to the Indemnified Party
can be maintained without prejudicing the rights of the indemnifying party. The
failure to deliver written notice to the indemnifying party within a reasonable
time of the commencement of any such action shall not relieve such indemnifying
party of any liability to the Indemnified Person or Indemnified Party under this
Section 6, except
<PAGE>   12
to the extent that the indemnifying party is prejudiced in its ability to defend
such action. The indemnification required by this Section 6 shall be made by
periodic payments of the amount thereof during the course of the investigation
or defense, as such expense, loss, damage or liability is incurred and is due
and payable.

                  - CONTRIBUTION. To the extent any indemnification by an
indemnifying party is prohibited or limited by law, the indemnifying party
agrees to make the maximum contribution with respect to any amounts for which it
would otherwise be liable under Section 6 to the fullest extent permitted by
law; provided, however, that (a) no contribution shall be made under
circumstances where the maker would not have been liable for indemnification
under the fault standards set forth in Section 6; (b) no seller of Registrable
Securities guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any seller
of Registrable Securities who was not guilty of such fraudulent
misrepresentation; and (c) except where the seller has committed fraud (other
than a fraud by reason of the information included or omitted from the
Registration Statement as to which the Company has not given notice as
contemplated under Section 3 hereof) or intentional misconduct, contribution by
any seller of Registrable Securities shall be limited in amount to the net
amount of proceeds received by such seller from the sale of such Registrable
Securities.

                  - REPORTS UNDER EXCHANGE ACT. With a view to making available
to the Investors the benefits of Rule 144 promulgated under the Securities Act
or any other similar rule or regulation of the SEC that may at any time permit
the Investors to sell securities of the Company to the public without
registration ("Rule 144"), the Company agrees to:

                  () make and keep public information available, as those terms
are understood and defined in Rule 144;

                  () file with the SEC in a timely manner all reports and other
documents required of the Company under the Securities Act and the Exchange Act;
and

                  () furnish to each Investor so long as such Investor owns
Registrable Securities, promptly upon request, (i) a written statement by the
Company that it has complied with the reporting requirements of Rule 144, the
Securities Act and the Exchange Act, (ii) a copy of the most recent annual or
quarterly report of the Company and such other reports and documents so filed by
the Company and (iii) such other information as may be reasonably requested to
permit the Investors to sell such securities pursuant to Rule 144 without
registration.

                  - ASSIGNMENT OF THE REGISTRATION RIGHTS. The rights to have
the Company register Registrable Securities pursuant to this Agreement shall be
automatically assigned by the Investors to any transferee of the Registrable
Securities (or all or any portion of any unconverted Debenture or unexercised
Warrant) only if: (a) the Investor agrees in writing with the transferee or
assignee to assign such rights, and a copy of such agreement is furnished to the
Company within a reasonable time after such assignment, (b) the Company is,
within a reasonable time after such transfer or assignment, furnished with
written notice of (i) the name and address of such transferee or assignee and
(ii) the securities with respect to which such registration rights are being
transferred or assigned, (c) immediately following such transfer or assignment
the
<PAGE>   13
further disposition of such securities by the transferee or assignee is
restricted under the Securities Act and applicable state securities laws, (d) at
or before the time the Company received the written notice contemplated by
clause (b) of this sentence the transferee or assignee agrees in writing with
the Company to be bound by all of the provisions contained herein, and (e) such
transfer of Registrable Securities is completed and disclosed to the Company
prior to the Effective Date or involves the transfer of Registrable Securities
resulting from the conversion of Debentures having a principal amount of at
least $200,000. In the event of any delay in filing or effectiveness of the
Registration Statement as a result of such assignment, the Company shall not be
liable for any damages arising from such delay, or the payments set forth in
Section 2(b) hereof arising from such delay.

                  - AMENDMENT OF REGISTRATION RIGHTS. Any provision of this
Agreement may be amended and the observance thereof may be waived (either
generally or in a particular instance and either retroactively or
prospectively), only with the written consent of the Company and Investors who
hold a sixty-seven (67%) percent interest of the Registrable Securities (as
calculated by the then outstanding principal amount of the Debentures without
any reference to the Warrant Shares). Any amendment or waiver effected in
accordance with this Section 10 shall be binding upon each Investor and the
Company.

                  11.      MISCELLANEOUS.

                  (a) A person or entity is deemed to be a holder of Registrable
Securities whenever such person or entity owns of record such Registrable
Securities. If the Company receives conflicting instructions, notices or
elections from two or more persons or entities with respect to the same
Registrable Securities, the Company shall act upon the basis of instructions,
notice or election received from the registered owner of such Registrable
Securities.

                  (b) Notices required or permitted to be given hereunder shall
be given in the manner contemplated by the Securities Purchase Agreement, (i) if
to the Company or to the Initial Investor, to their respective address
contemplated by the Securities Purchase Agreement, and (ii) if to any other
Investor, at such address as such Investor shall have provided in writing to the
Company, or at such other address as each such party furnishes by notice given
in accordance with this Section 11(b).

                  (c) Failure of any party to exercise any right or remedy under
this Agreement or otherwise, or delay by a party in exercising such right or
remedy, shall not operate as a waiver thereof.

                  (d) This Agreement shall be governed by and interpreted in
accordance with the laws of the State of New York for contracts to be wholly
performed in such state and without giving effect to the principles thereof
regarding the conflict of laws. Each of the parties consents to the jurisdiction
of the federal courts whose districts encompass any part of the City of New York
or the state courts of the State of New York sitting in the City of New York in
connection with any dispute arising under this Agreement and hereby waives, to
the maximum extent permitted by law, any objection, including any objection
based on forum non coveniens, to the bringing of any such proceeding in such
jurisdictions. To the extent determined by such court,
<PAGE>   14
the Company shall reimburse the Investor for any reasonable legal fees and
disbursements incurred by the Investor in enforcement of or protection of any of
its rights under this Agreement.

                  (e) If any provision of this Agreement shall be invalid or
unenforceable in any jurisdiction, such invalidity or unenforceability shall not
affect the validity or enforceability of the remainder of this Agreement or the
validity or enforceability of this Agreement in any other jurisdiction.

                  (f) Subject to the requirements of Section 9 hereof, this
Agreement shall inure to the benefit of and be binding upon the successors and
assigns of each of the parties hereto.

                  (g) All pronouns and any variations thereof refer to the
masculine, feminine or neuter, singular or plural, as the context may require.

                  (h) The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning thereof.

                  (i) This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same agreement. This Agreement, once executed by a party,
may be delivered to the other party hereto by telephone line facsimile
transmission of a copy of this Agreement bearing the signature of the party so
delivering this Agreement.

                  (j) The Company acknowledges that any failure by the Company
to perform its obligations under Section 3(a) hereof, or any delay in such
performance could result in loss to the Investors, and the Company agrees that,
in addition to any other liability the Company may have by reason of such
failure or delay, the Company shall be liable for all direct damages caused by
any such failure or delay, unless the same is the result of force majeure.
Neither party shall be liable for consequential damages.

                  (k) This Agreement constitutes the entire agreement among the
parties hereto with respect to the subject matter hereof. There are no
restrictions, promises, warranties or undertakings, other than those set forth
or referred to herein. This Agreement supersedes all prior agreements and
understandings among the parties hereto with respect to the subject matter
hereof. This Agreement may be amended only by an instrument in writing signed by
the party to be charged with enforcement thereof.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>   15

                  IN WITNESS WHEREOF, the parties have caused this Agreement to
be duly executed by their respective officers thereunto duly authorized as of
the day and year first above written.
                                            COMPANY:
                                            TITAN MOTORCYCLE CO. OF AMERICA

                                            By:

                                            Name:
                                            Title:

                                            INITIAL INVESTOR:

                                               [Print Name of Initial Investor]

                                            By:

                                            Name:
                                            Title:

<PAGE>   16
                                    EXHIBIT 1

            Shares Permitted to Be Included in Registration Statement
<TABLE>
<CAPTION>

                       Shares of
                        Common
    Shareholder Name    Stock        Owned/Description of Right to Acquire
    ---------------    ---------     ----------------------------------------
<S>                    <C>          <C>
Libra Finance S.A.       to be       Shares held
                       determined

Libra Finance S.A.       51,250      Warrants, issued August 8, 2000, with piggy
                                     back registration rights
</TABLE>
-----------<PAGE>   1
                                                                Exhibit 4.4
                     SECURITY INTEREST AND PLEDGE PROVISIONS

         For purposes of this ANNEX VII, the terms "Debtor" and "Secured Party"
have the meanings ascribed to them in the Securities Purchase Agreement (as
defined below), to which this Annex VII is attached.

         Unless otherwise specified, all capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Securities Purchase
Agreement of even date herewith (the "Securities Purchase Agreement") to which
the undersigned Debtor and the Lenders named therein are parties.

         These Security Interest and Pledge Provisions are sometimes referred to
as the "Security Interest Agreement."

         Section 1.        The Security Interests.

         (a) In order to secure the due and punctual fulfillment of the
Obligations (as defined below), the Debtor hereby grants, conveys, transfers and
assigns to the Secured Party a continuing security interest in the following
described fixtures and personal property, whether now owned or hereafter
acquired, together with all additions, substitutions, replacements and proceeds
and all income, interest, dividends and other distributions thereon (hereinafter
collectively called the "Collateral"):

         all assets and properties of whatever kind and description, excluding
         intellectual property, now or hereafter owned by the Debtor, and all
         accessions, additions or improvements to, all replacements,
         substitutions and parts for, and all proceeds and products of the
         foregoing; all bank and securities accounts of any kind or nature; all
         books, records and documents relating to the foregoing located at the
         principal place of business or any other place of business of the
         Debtor, or at such other location as the business may hereafter be
         located , or held by any agent, representative or bailee of the Debtor
         wherever located.

         (b) The security interests granted pursuant to this Section 1 (the
"Security Interests") are granted as security only and shall not subject the
Secured Party to, or transfer or in any way affect or modify, any obligation or
liability of the Debtor under any of the Collateral or any transaction which
gave rise thereto.

         (c) If the Collateral includes certificated securities, documents or
instruments, such certificates are herewith delivered to the Secured Party or to
the Agent (as defined below) or the

<PAGE>   2

Agent's designee, accompanied by duly executed blank stock or bond powers or
assignments, as applicable. The Debtor hereby authorizes the transfer of
possession of all certificates, instruments, documents and other evidence of the
Collateral to the Secured Party or the Agent or the Agent's designee.
Notwithstanding anything to the contrary contained herein, this Security
Interest Agreement evidences a present and absolute pledge of the Collateral to
the Secured Party, which shall be effective upon the execution of this Security
Interest Agreement.

         (d) The term " Obligations" means the due and punctual fulfillment and
performance of all of the Debtor's obligations to the Secured Party whether now
existing or hereafter arising (i) under each of the Securities Purchase
Agreement, the Registration Rights Agreement, the Debentures, or any other
Transaction Agreements and all other documentation and instruments reflecting
the obligations of the Debtor to the Secured Party (collectively, the "Debtor
Agreements") and (ii) any and all other obligations as may be incurred or
assumed by the Debtor to the Secured Party from time to time; all of the
foregoing whether arising under any agreement, instrument or document, whether
or not for the payment of money, whether arising by reason of an extension of
credit, opening a letter of credit, loan or guarantee or in any other manner,
whether direct or indirect (including those acquired by assignment or
participation), absolute or contingent, joint or several, due or to become due,
whether now existing or hereafter arising, and any amendments, extensions,
renewals or increases, and all costs and expenses of the Secured Party incurred
in the documentation, negotiation, modification, enforcement, collection or
otherwise in connection with any of the foregoing, including reasonable
attorneys' fees and expenses.

         Section 2.        Filing; Further Assurances.

         (a) The Debtor will, at its expense, execute, deliver, file and record
(in such manner and form as the Secured Party may require), or permit the
Secured Party to file and record, any financing statements, any carbon,
photographic or other reproduction of a financing statement or this Security
Interest Agreement (which shall be sufficient as a financing statement
hereunder), any specific assignments or other paper that may be reasonably
necessary or desirable, or that the Secured Party may request, in order to
create, preserve, perfect or validate any Security Interest or to enable the
Secured Party to exercise and enforce its rights hereunder with respect to any
of the Collateral. Effective upon the existence of an Debtor Event of Default
(as defined below), the Debtor hereby appoints Secured Party as Debtor's
attorney-in-fact to execute in the name and behalf of Debtor such additional
financing statements as Secured Party may request.

         (b) Solely for administrative convenience and not for any other
purpose, each Secured Party has designated Krieger & Prager LP to act as agent
for and on behalf of the Secured Party (the "Agent") for purposes of taking
possession of the Collateral and for execution of and identification on any
financing statement or similar instrument referring to or describing the
Collateral. Such agency designation shall remain in effect until canceled by
such Secured Party; provided, however, that such cancellation shall not affect
the validity of any action theretofore taken by such agent pursuant to this
provision. The Debtor acknowledges and agrees to honor such designation and
acknowledges that the Agent is acting as the agent of the Secured Party and not
as a principal.

         Section 3. Representations and Warranties of Debtor. Except for the
interests of

<PAGE>   3
         (i) the Senior Lender, which has and retains an interest in the
         Collateral which is senior to and has priority over the interest of the
         Secured Party therein (the "Senior Lender Interests");

         (ii) Ed Tucker Distributor, Inc. ("Tucker"), which has and retains an
         interest in "all Ed Tucker Distributor, Inc. inventory known and now in
         possession and to be acquired" by the Debtor, to secure an aggregate
         obligation not exceeding $13,050 (the "Tucker Interests"); and

         (iii) any other party (a "Subordinating Party") having a security
         interest in or to any of the Collateral, each of which has acknowledged
         and consented in writing to the priority of the security interest of
         the Secured Party in and to the Collateral granted hereby,

the Debtor hereby represents and warrants to the Secured Party as follows:

         (a) There are no restrictions on the pledge or transfer of any of the
Collateral, other than restrictions referenced on the face of any certificates
evidencing the Collateral.

         (b) The Debtor is the legal, beneficial and record owner of the
Collateral, which is registered in the name of the Debtor as of the date hereof.

         (c) Except for the Senior Lender Interests, the Tucker Interests and
the interests of any Subordinating Party and except for the security interests
of Coast (as defined below), to the extent provided in the immediately following
sentence, the Collateral is free and clear of any security interests, pledges,
liens, encumbrances, charges, agreements, claims or other arrangements or
restrictions of any kind; and the Debtor will not incur, create, assume or
permit to exist any pledge, security interest, lien, charge or other encumbrance
of any nature whatsoever on any of the Collateral, or assign, pledge or
otherwise encumber any right to receive income from the Collateral, except in
connection with any secured financing with a New Senior Lender. Except for such
financing statements representing the Senior Lender Interests or in favor of
Subordinating Parties, a schedule of which is attached hereto as part of Exhibit
A and made a part hereof, no financing statement covering the Collateral is on
file in any public office, other than (i) financing statements naming Coast
Business Credit ("Coast"), as secured party, which financing statements are
being terminated by Coast, as reflected in an August 1, 2000 letter from Coast,
a copy of which has been provided to the Secured Party, (ii) financing
statements representing the Tucker Interests, which security interest will be
released and which financing statements will be terminated upon Tucker's receipt
of payments aggregating no more than $13,050, as reflected in an August 3, 2000
letter from Tom Mathews, Jr., Esq., counsel to Tucker, a copy of which has been
provided to the Secured Party, and (iii) financing statements filed pursuant to
this Security Interest Agreement.

         (d) Subject to the Senior Lender Interests and the Tucker Interests,
the Debtor has the right to transfer the Collateral free of any encumbrances and
the Debtor will defend the Debtor's title to the Collateral against the claims
of all persons, and any registration with, or consent or approval to or action
by, any federal, state or other governmental authority or regulatory body which
was or is necessary for the validity of the pledge and grant of the security
interest in the Collateral has been obtained.

         (e) Upon the occurrence of a Debtor Event of Default, no third party
other than the Senior Lender or the Subordinating Parties, has any rights to
receive notice of such default or the
<PAGE>   4
sale of the Collateral or any portion thereof, and no third party other than the
Senior Lender or the Subordinating Parties has rights to purchase all or any
portion of the Collateral.

         (f) All additional information, representations and warranties
contained in Exhibit B attached hereto and made a part hereof are true, accurate
and complete on the date hereof.

         Section 4. Covenants of Debtor. The Debtor hereby covenants and agrees
with the Secured Party that the Debtor, except with the prior written consent of
the Secured Party in each instance, (a) will, at the Debtor's sole cost and
expense, defend the Collateral against all claims and demands of all persons
(including Subordinating Parties) at any time claiming any interest therein
senior to the Secured Party's interest; (b) will provide the Secured Party with
prompt written notice of (i) any change in the chief executive officer of the
Debtor or the office where the Debtor maintains its books and records pertaining
to the Collateral; (ii) the movement or location of all or a material part of
the Collateral to or at any address other than as set forth in said Exhibit B;
and (iii) any facts which constitute an Debtor Event of Default, or which, with
the giving of notice and/or the passage of time, could or would constitute an
Debtor Event of Default, pursuant to Section 7 below; (c) will promptly pay any
and all taxes, assessments and governmental charges upon the Collateral prior to
the date penalties are attached thereto, except to the extent that such taxes,
assessments and charges shall be contested in good faith by the Debtor; (d) will
immediately notify the Secured Party of any event causing a substantial loss or
diminution in the value of all or any material part of the Collateral and the
amount or an estimate of the amount of such loss or diminution; (e) will have
and maintain adequate insurance at all times with respect to the Collateral
against risks of fire (including so-called extended coverage) and theft, and
such other risks as are customary in the Debtor's industry for the respective
items included in the Collateral, such insurance to be payable to the Secured
Party and the Debtor as their respective interests may appear, subject in all
events to the Senior Lender Interests, and shall provide for a minimum of ten
(10) days prior written notice of cancellation to the Secured Party, and Debtor
shall furnish the Secured Party with certificates or other evidence satisfactory
to the Secured Party of compliance with the foregoing insurance provisions; (f)
will not sell or offer to sell or otherwise assign, transfer or dispose of the
Collateral or any interest therein, without the prior written consent of the
Secured Party, except in the ordinary course of business; (g) other than the
Senior Lender Interests, will keep the Collateral free from any adverse lien,
security interest or encumbrance (except for encumbrances specified in Exhibit A
attached hereto) and in good order and repair, reasonable wear and tear
excepted, and will not waste or destroy the Collateral or any part thereof; and
(h) will not use the Collateral in material violation of any statute or
ordinance the violation of which could materially and adversely affect the
Debtor's business.

         Section 5. Records Relating To Collateral. The Debtor will keep its
records concerning the Collateral at its offices designated in Exhibit B or at
such other place or places of business of which the Secured Party shall have
been notified in writing no less than ten (10) days prior thereto. The Debtor
will hold and preserve such records and chattel paper and will permit
representatives of the Secured Party at any time during normal business hours
upon reasonable notice to examine and inspect the Collateral and to make
abstracts from such records and chattel paper, and will furnish to the Secured
Party such information and reports regarding the Collateral as the Secured Party
may from time to time reasonably request.

         Section 6. General Authority. The Debtor hereby appoints the Secured
Party the Debtor's lawful attorney, with full power of substitution, in the name
of the Debtor, for the sole use and benefit of the Secured Party, but at the
Debtor's expense, to exercise, all or any of the
<PAGE>   5
following powers with respect to all or any of the Collateral during the
existence of any Debtor Event of Default:

         (a) to demand, sue for, collect, receive and give acquittance for any
and all monies due or to become due;

         (b) to receive, take, endorse, assign and deliver all checks, notes,
drafts, documents and other negotiable and non- negotiable instruments and
chattel paper taken or received by the Secured Party;

         (c) to settle, compromise, prosecute or defend any action or proceeding
with respect thereto;

         (d) to sell, transfer, assign or otherwise deal in or with the same or
the proceeds thereof or the related goods securing the Collateral, as fully and
effectually as if the Secured Party were the sole and absolute owner thereof;

         (e) to extend the time of payment of any or all thereof and to make any
allowance and other adjustments with reference thereto; and

         (f) to discharge any taxes, liens, security interests or other
encumbrances at any time placed thereon;

provided that the Secured Party shall give the Debtor not less than ten (10)
days prior written notice of the time and place of any sale or other intended
disposition of any of the Collateral.

         Section 7. Debtor Events of Default. The Debtor shall be in default
under this Security Interest Agreement upon the occurrence of any of the
following events (a "Debtor Event of Default"):

         (a) if any representation or warranty made by the Debtor in this ANNEX
VII or in any of the Transaction Agreements shall be false or misleading in any
material respect; or

         (b) the occurrence of an Event of Default (as defined in the
Debenture).

         Section 8.        Remedies Upon Debtor Event of Default.

         (a) If any Debtor Event of Default shall have occurred, the Secured
Party may exercise all the rights and remedies of a Secured Party under the
Uniform Commercial Code. The Secured Party may require the Debtor to assemble
all or any part of the Collateral and make it available to the Secured Party at
a place to be designated by the Secured Party which is reasonably convenient.
The Secured Party shall give the Debtor ten (10) days prior written notice of
the Secured Party's intention to make any public or private sale or sale at a
broker's board or on a securities exchange of the Collateral. At any such sale
the Collateral may be sold in one lot as an entirety or in separate parcels, as
the Secured Party, in its sole discretion, may determine. The Secured Party
shall not be obligated to make any such sale pursuant to any such notice. The
Secured Party may, without notice or publication, adjourn any public or private
sale or cause the same to be adjourned from time to time by announcement at the
time and place fixed for the sale, and such sale may be made at any time or
place to which the same may be adjourned. The Secured Party, instead of
exercising the power of sale herein conferred upon it,
<PAGE>   6
may proceed by a suit or suits at law or in equity to foreclose the Security
Interests and sell the Collateral, or any portion thereof, under a judgment or
decree of a court or courts of competent jurisdiction.

         (b) At any bona fide public sale the Secured Party shall be free to
purchase all or any part of the Collateral. Any such sale may be on cash or
credit. The Secured Party will not be obligated to make any sale and may sell at
the time and place to which the sale is adjourned. If the Collateral is
customarily sold on a recognized market or threatens to decline speedily in
value, the Secured Party may sell such Collateral at any time without giving
prior notice to the Debtor. Whenever notice is otherwise required by law to be
sent by the Secured Party to the Debtor of any sale or other disposition of the
Collateral, three (3) days' written notice sent to the Debtor at the notice
address specified below will be reasonable.

         Section 9.        Application of Collateral and Proceeds.

         (a) The proceeds of any sale of, or other realization upon, all or any
part of the Collateral shall be applied in the following order of priorities:
(i) first, to the payment of all of the reasonable expenses of such sale or
other realization, including, without limitation, reasonable attorneys' fees,
and all expenses, liabilities and advances reasonably incurred or made by the
Secured Party in connection therewith, and of any other unreimbursed expenses
for which the Secured Party is to be reimbursed pursuant to the terms of any of
the Transaction Agreements; (ii) second, to any obligations owed to the Senior
Lender secured by the Senior Lender Interests; (iii) third, to the payment of
the Obligations in such order of priority as the Secured Party, in its sole
discretion, shall determine; and (iv) finally, to the payment to the Debtor, or
its successors or assigns, or as a court of competent jurisdiction may direct,
of any surplus then remaining from such proceeds after payments of the character
referred to in subsections (i) through (iii) of this Section 9(a) shall have
been made.

         (b) If any demand is made at any time upon the Secured Party for the
repayment or recovery of any amount received by it in payment or on account of
any of the Obligations from the disposition of the Collateral and if the Secured
Party repays all or any part of such amount, the Debtor will be and remain
liable for the amounts so repaid or recovered to the same extent as if never
originally received by the Secured Party.

         (c) In furtherance of the foregoing, and not in limitation thereof:

         (i) The Secured Party, as attorney-in-fact pursuant to the terms of
         this Security Interest Agreement, may, in the name and stead of the
         Debtor, make and execute all conveyances, assignments and transfers of
         the Collateral sold pursuant to the terms of this Security Interest
         Agreement. The Debtor shall, if so requested by the Secured Party or
         representatives or agents of the Secured Party, ratify and confirm any
         sale or sales by executing and delivering to the Secured Party or its
         designees, or to such purchaser or purchasers, all such instruments as
         may, in the judgment of the Secured Party, be advisable for such
         purpose.

         (ii) The receipt of the Secured Party for the purchase money paid at
         any such sale made by it shall be a sufficient discharge therefor to
         any purchaser of the Collateral, or any portion thereof, sold as
         aforesaid; and no such purchaser (or his or its representatives or
         assigns), after paying such purchase money and receiving such receipt,
         shall be bound to see to the application of such purchase
<PAGE>   7
         money or any part thereof or in any manner whatsoever be answerable for
         any loss, misapplication, necessity, expediency or regularity of any
         such sale.

         Section 10. Further Assurances. At any time and from time to time, upon
demand of the Secured Party, the Debtor will give, execute, file and record any
notice, financing statement, continuation statement, instrument, document or
agreement that the Secured Party may consider necessary or desirable to create,
preserve, continue, perfect or validate any security interest granted hereunder
or to enable the Secured Party to confirm its rights hereunder with respect to
such security interest. Without limiting the generality of the foregoing, the
Debtor hereby irrevocably appoints the Secured Party as the Debtor's
attorney-in-fact to do all acts and things in the Debtor's name that the Secured
Party may deem necessary or desirable to carry out the purposes of this Security
Interest Agreement, which appointment is deemed to be coupled with an interest.
The Secured Party is authorized to file financing statements, continuation
statements and other documents under the Uniform Commercial Code relating to the
Collateral without the Debtor's signature, naming the Debtor as debtor and the
Secured Party (or the Agent as agent of the Secured Party) as secured party.

         Section 11. Expenses; Secured Party's Lien. The Debtor will forthwith
upon demand pay to the Secured Party: (a) the amount of any taxes which the
Secured Party may have been required to pay by reason of the Security Interests
(including, without limitation, any applicable transfer taxes) or, except with
respect with the Senior Lender Interests, to free any of the Collateral from any
lien thereon; and (b) the amount of any and all reasonable out-of-pocket
expenses, including, without limitation, the reasonable fees and disbursements
of its counsel, and of any agents not regularly in its employ, which the Secured
Party may incur in connection with (i) the preparation of any amendments or
modifications of this Security Interest Agreement, (ii) the collection, sale or
other disposition of any of the Collateral; (iii) the exercise by the Secured
Party of any of the powers conferred upon it hereunder, or (iv) any default by
the Debtor hereunder.

         Section 12. Termination of Security Interests; Release of Collateral.
Upon the repayment and performance in full of all the Obligations, the Security
Interests shall terminate and all rights to the Collateral shall revert to the
Debtor. Upon any such termination of the Security Interests or release of
Collateral, the Secured Party will, at the Debtor's expense, to the extent
permitted by law, execute and deliver to the Debtor such documents as the Debtor
shall reasonably request to evidence the termination of the Security Interests
or the release of such Collateral, as the case may be.

         Section 13. Notices. Any notice required or permitted hereunder shall
be given in the manner contemplated by the Securities Purchase Agreement.

         Section 14.       Miscellaneous.

         (a) No failure on the part of the Secured Party to exercise, and no
delay in exercising, and no course of dealing with respect to, any right, power
or remedy under this Security Interest Agreement shall operate as a waiver
thereof; nor shall any single or partial exercise by the Secured Party of any
right, power or remedy under this Security Interest Agreement preclude the
exercise, in whole or in part, of any other right, power or remedy. The remedies
in this Security Interest Agreement are cumulative and are not exclusive of any
other remedies provided by law. Neither this Security Interest Agreement nor any
provision hereof may be changed, waived,
<PAGE>   8
discharged or terminated orally but only by a statement in writing signed by the
party against which enforcement of the change, waiver, discharge or termination
is sought.

         (b) Unless otherwise defined herein, or unless the context otherwise
requires, all terms used herein which are defined in the Delaware Uniform
Commercial Code have the meanings therein stated.

         Section 15. Separability. If any provision hereof shall prove invalid
or unenforceable in any jurisdiction whose laws shall be deemed applicable, the
other provisions hereof shall remain in full force and effect in such
jurisdiction and shall be liberally construed in favor of the Secured Party.

Acknowledged:
TITAN MOTORCYCLE CO. OF AMERICA, Debtor

By:______________________________________
Its

STATE OF ________________
COUNTY OF ______________

     On the ______ day of ________, 2000, before me personally came
_________________________, to me known, who being by me duly sworn, did depose
and say that he resides at _____________________________________,
__________________; that he is the _______________ of TITAN MOTORCYCLE CO. OF
AMERICA, the corporation described in and which executed the foregoing
instrument as Debtor; that he was authorized to execute the foregoing instrument
on behalf of said corporation by the Board of Directors of said corporation; and
that he executed the foregoing instrument voluntarily and of his own free will
on behalf of said corporation.

                                                ________________________________
                                                Notary Public
                                                My commission expires:

<PAGE>   9
                                    EXHIBIT A

                   FINANCING STATEMENTS ON FILE ON DATE HEREOF

         1.       Financing Statement on Form UCC-1, naming Debtor, as debtor,
                  and                  ,  as secured party, as filed in the
                  office of the Secretary of State of the State of
                  on                       ,         and in the office of
                  on                       ,         .  Covered
                  collateral:
                              [IN LIEU OF FOREGOING, SEE ATTACHED COPIES OF UCC
                              FINANCING STATEMENTS ON FILE]

Debtor represents that, except for the security interest referred to in
paragraph 1 above, there are no security interests in the Collateral in favor of
any other party.

<PAGE>   10
                                    EXHIBIT B

                    ADDITIONAL REPRESENTATIONS AND WARRANTIES

     1.  The exact title of the Debtor is TITAN MOTORCYCLE CO. OF AMERICA

     2. The Debtor does business under the names:

     3.  The Debtor was incorporated on              under the laws of the State
         of Nevada and is in good standing under those laws.

     4. The President of the Debtor is Frank Keery.

     5. The Debtor is qualified to transact business in:
                           Arizona

     6.  The Debtor's only place(s) of business is/are at:
                           2222 West Peoria Avenue, Phoenix, AZ 85029.

     7.  The Debtor owns or has an interest in personal property or fixtures at
         the following locations:

         Address                                     Record Owner of Real Estate

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00014-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00014-of-00352.parquet"}]]