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Reso 1996-021 to 025
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Reso 1996-021 to 025
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7/14/2022 1:13:21 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Resolution
Document Date (6)
12/31/1996
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PERM
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Protection of Collateral <br />4. The Debtor will keep the Collateral in good order and repair and will not waste or destroy <br />the Collateral or any part of it. The Debtor will not use the Collateral in violation of any status or <br />ordinance and the Secured Party will have the right to examine and inspect the collateral at any <br />reasonable time. <br />Taxes and Assessments <br />5. The Debtor will pay promptly when due all taxes and assessments on the Collateral, or any <br />part of the Collateral, or for its use and operation. <br />Payment <br />6. The Debtor will pay the PROMISSORY NOTE secured by this SECURITY AGREEMENT and <br />any renewal or extension of it and any other indebtedness secured by this Agreement in accordance <br />with the terms and provisions of the indebtedness and will repay immediately all sums expended <br />by the Secured Party in accordance with the terms and provisions of this SECURITY AGREEMENT. <br />Miscellaneous Provisions <br />7. (a) California Law to Apply: This SECURITY AGREEMENT shall be construed under and <br />in accordance with the California Commercial Code and other applicable laws of the <br />State of California, and all obligations of the parties created under this SECURITY <br />AGREEMENT are performable in Sonoma County, California. <br />(b) Parties Bound: This SECURITY AGREEMENT shall be binding on or inure to the <br />benefit of the parties and their respective heirs, executors, administrators, legal <br />representatives, successors, and assigns as permitted by this SECURITY AGREEMENT. <br />(c) Attorney's Fees: Should any litigation be commenced between the parties to this <br />SECURITY AGREEMENT concerning the Collateral, this SECURITY AGREEMENT, or <br />the rights and duties of either party in relation to them, the prevailing party shall be <br />entitled to a reasonable sum as reimbursement for his attorneys' fees and legal <br />expenses. <br />(d) Legal Construction: In case of one or more of the provisions contained in this <br />SECURITY AGREEMENT shall for any reason be held invalid, illegal, or <br />unenforceable in any respect, the invalidity, illegality, or unenforceability of that <br />provision shall not affect any other provision of this SECURITY AGREEMENT, and <br />this SECURITY AGREEMENT shall be construed as if the invalid, illegal, or <br />unenforceable provision had never been contained in it. <br />Security Agreement Page 2 of 4 <br />
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