Laserfiche WebLink
paid. <br />9. Collection and Enforcement by Secured Party. Secured Party shall have the right at any <br />time, and regardless of whether a default has occurred: <br />a. To notify an account debtor or other obligor on the Collateral to make payment <br />or otherwise render performance to or for the benefit of Secured Party. <br />b. To take any proceeds to which Secured Party is entitled. <br />c. To enforce the obligations of an account debtor or other obligor on the Collateral <br />and to exercise Debtor's rights with respect to (i) the obligations of the account debtor or other <br />obligor to make payment or otherwise render performance to Debtor, and (ii) any property that <br />secures the obligations of the account debtor or other obligor. <br />d. If Secured Party holds a Security Interest in a deposit account perfected by <br />control, to apply the balance of the deposit account to the Obligations or to instruct the bank to <br />pay the balance of the deposit account to or for the benefit of Secured Party. <br />e. To require Debtor to assemble the Collateral and make it available to Secured <br />Party at a place to be designated by Secured Party which is reasonably convenient to both parties, <br />and to deliver to Secured Party any and all certificates of title and other documents relating to the <br />Collateral. <br />Secured Party, however, shall have no duty to collect any income accruing on the. Collateral or to <br />preserve any rights relating to the Collateral. Secured Party may deduct from the collections under this <br />Paragraph the reasonable expenses of collection and enforcement, including reasonable attorneys' fees <br />and legal expenses incurred by Secured Party. <br />10. Default. The occurrence of any of the following shall, at the option of Secured Party, be <br />a default: <br />a. Any default under the Note or any of the other documents evidencing or securing <br />the Loan, or if the full balance of the Loan becomes immediately payable under the terms of such <br />documents, either automatically or by declaration of Secured Party. <br />b. Debtor fails to pay or perform any Obligations or any part thereof in accordance <br />with their terms. <br />c. Any representation or warranty of Debtor contained in this Security Agreement <br />is materially false or misleading. <br />d. Debtor disposes of the Collateral except as .expressly permitted by this. Security <br />Agreement,. or there is any attachment, execution, levy on, or other seizure of any of the <br />Collateral except by Secured Party. <br />Page 5 <br />-94- <br />