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<br /> � • � tanqfb.te arW intangible property: tcgeeh�r wfth al! replace�enta� � ---*; � _
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<br /> addi�ions. sub�titutions a�i_=a�ditions thereto, �Rether now oxned .. ' . ��,, y �_.
<br /> � � or hereafter acq�iredr actrit�.tiab�le _to .Lh� bufTding aru� the, opeic- ,��`� ��_�;°�
<br /> - � �. ations=.coriducted by the aebto� in Graad �sland, under the name ; � �,::;�;;'��
<br /> � �•• : , and style �of Horianza �
<br /> 3I8 at 1828 t�:,:t�iebb Road. �� `" � ':�'�`
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<br /> � � � 2. �e Subardinatinq Creditvr hereby consents to the qrant- `.rt �
<br /> isig by the Uebtor to Ehe SecuXed Party of_a fi�st security inter- � � �•�_ � �
<br /> ��� - ara ra h 1 of this 3ubordina- �: • ; ���` .
<br /> ` e s c i n a l l C o l l a t e r a l d e s c r i b e d i n � , g P
<br /> � tion Agreement. � � � `y' �
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<br /> " J�}:=.� 3. So long as an obligatioa is outstanding frora the IIebtor � � ::�� �''
<br /> .� �-'�� to the Secured Party �for indebtedness evidenced by Froa�ssar7t � � -� �.
<br /> ���'��,�I��`y_ f 3 :
<br /> . -f:x . t�u�.es or other fi�st�umc�nts of indebtedness. the Securcx� Par�y°s , _
<br /> _; ,
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<br /> ::�,"''.,. ` ` ..-`:=: fnterest in �the Callateral shall have priorit}� to the extent of ' :
<br /> ���.�.,,,.:�:...� '
<br /> . .
<br /> �..:_ .... . :'
<br /> tQe autstandfng oblfgat�on�owing ta the Secured Partg: b� reason : _ _ .
<br /> : .. of the abave-meationed Fromissory Notes ar other fa�s�p��.�ents of i` � .
<br /> .i't.'...�.._;�r.,F.r'i',. .�fliJ�rd i naz ir� � ,� - .. . . ...
<br /> �'` �L�,,�_ �-._j:;. • ed e c F f n c rig tatement �, ,# �
<br /> � � . ;, � indebt ness ov r he an i S s .of:-C�t -° g - r ,. .
<br /> 4. 'ryr,�.�: . Creditor in�that Collaieral. and the S�trorc��'r,��:ii%�`��z��['or�.�. �".., ��t. .f .�� �-�-.
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<br /> � �,,;r•'r�� ` . � ' '�,;, interest in that Colla�eral is. in alI respe¢�•i��.'�#����� a� ��- � . '�<r`�. . � »f".
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<br /> ;�;:� =���-?-,;.�_ ordiaate to the extent ci�. the obligatfon outstandf%i�:,;� ut�paid - . __
<br /> �:;W%�'� . , , to the sacuri�y _fnter���`of the Secured Party. h�we�t�� �►€det�aed. � . . jf ,: =
<br /> . , , . `' '` ' `'r:
<br /> " ` � � - � �` 4. So long as an�.:portion of an obligation is ouestarie�,��n��.,. ��'���''
<br /> . -. .. - .�" " � , . and unpaid, the provisfons�`o� the Fitxan�`inq Statement and �5��` • . , . : ; i.fr{.
<br /> � ,^� � rfty Agreement betwe�r�`�the Debtor and:�fie Secured Party are cbr- `� , `� •� '
<br /> : •,. = : . -,:....
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<br /> �''��`4 = crolling as- co the Collateral in whict�`�e:�cLred Party is cQ -
<br /> �. .�: ,::� �L , ', ����' have a first security interest and in .�ii ;ea��� in which there is ; �< ' -
<br /> �,` ,.{'�'�' %`� ` - � a conflict betiween it and the provisicrr� o€;"� Financing State- �, . �-��; =
<br /> �'•:ir'�' " , •, , .. , -
<br /> =��. ment. Security Agreement, �lortgage .or':i�ed 6€� T'rust r�eanted to . � ,.{�,� :
<br /> 1� .,�` � -'r,;'� � the .Sa:Dordinatfng Creditor by tha �?t)e����. . �5��
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<br /> - �� • � 5. This Agreement is a ��ntiri�3szsg, absolute arcr�'��:ncondi- � .,,,.,,
<br /> � , • . � � tional agreement of subordination w�thout regard to th.�-.va���ity . � ; . . ,.;`��f�;
<br /> � ` � or et�forceability oE the Promissory Notes or other ii��.rnzme�ats of i; . : .. � r
<br /> indebeedness Detween the Debtor and the Secuced Fa�y'=.L�idQncing � .: � . - � :
<br /> • � � • sums due or documents granting a security int��r��'���i� �C.ize Coltat- -. . � ;, _,., � ,. '
<br /> �. ,.j;, , � eral, iticespectfve of the tim��or ardar of atu��'�iiis�+�tt�'�it pecfec- �: .;.� !�;;.<�,!%�-� �
<br /> ;�,,'���;.:, .
<br /> ��� tion of the security interest fn the Collate��i'_:;���.`ttz� order of ,�%�•.�.Y�,;r�'.; - °� '
<br />• . .+1',�;rrr. ,. . . . �:'�;�:�it.'�� .
<br /> � ,. ,.;., f il ing the F'inancing Statements, Deeds of Trusc ar�:'�!�a�tgages with ��•� .,
<br /> . ,.;;;. - r: . ;,�.� - respect ta the Callateral � � � ` ,. �- ;f��
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<br /> :�i�r� ,�r.ii,_ ' .IYf1N � '.;. .` �'. ', , , — '— irt��'��:y:�'�i
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<br /> �'���' `'''� ���'�-�"�'-��� ' � 6. This Agresment shall rema�ii ��i►� full force and ef�ect and . . � `�'`�T�'' �
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<br /> � "`. ;,"'').!!.':r•;%`"�!:,i;•'•��'ie�� is binding uQoA the Subordina��r����C�te�itor and upon its succes- , .
<br /> "� r''�'�`�r`` '� ``�"` sors and asss.��s. so lonq as�,ars� po�ion of an obligation from � '� � �
<br /> � ' •���,;.j j�i'�,i��t���1��,•� � , ,
<br /> ' •�' `.�``�� the Debtor ta the Secured Party is �±a�+:standing and unpaid. ? �
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<br /> �� • � ``S'• 7. Tbe:,&ubordinating Creditor a+;�ees .that the Promissory
<br /> 3 ��":.f;;�f�Jt �_�� � . Notes or atti�� instruments of indebtedness a� the Debtor evidenc- :
<br /> :.. }�`�;�;. „ • -. ing the ablcga�ion betw�on the Debtor and �J�►.�� Secured Pazty, may ''
<br /> :;-,.�,�,,:. : ; `�:,�,',fi!?��' ' ��: frcom �ime to.�Gime bo ranewed, extended, modif ied, compromised. � � �
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