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Real estate that can be declared as collateral under a security agreement includes inventory of products, furniture, equipment used by a company, home furnishings and real estate owned by the company. The borrower is responsible for maintaining security in good condition in the event of a default. The property classified as collateral should not be removed from the premises unless the property is required in the normal framework of operations. the terms „goods,“ „cat paper,“ „title document,“ „instrument,“ „intangible assets,“ „investment real estate,“ „continuation,“ „inventory,“ „adhesion,“ „money,“ „account,“ „financing statement“ and „statement of funding change“ are interpreted according to their respective meaning when used in the provincial Personal Security Act, as amended from time to time, the law, including amendments and amendments to the law that are replaced , and its changes are called „P.P.S.A.“ Provided that the term „goods,“ when used, does not include the borrower`s „consumer goods“ as defined in the P.P.S.A., and that the term „inventory“ when used includes livestock and its young after conception and crops that are part of it within one year of the implementation of this agreement. Any reference to „collateral“ means, unless the context requires it, a reference to „collateral or part of it.“ 1. INTRODUCTION. This commercial and security loan agreement („agreement“) governs your commercial loan („loan“) from Chef Choice Equipment Rentals Inc. („Chef Choice“). The accompanying trade and security agreement (the „complement“) and the pre-authorized loan and credit agreement („PAD agreement“) are included as a reference and are considered part of this agreement. Please read it and keep it for your reference. In this agreement, the terms „you,“ „your“ and „borrower“ are the individuals or corporations who sign this agreement or in the name of which this agreement is signed. The words „Lender,“ „we,“ „we“ and „our“ mean Chef Choice Equipment Rentals Inc. or its successors and divestment recipients.

In general, the main elements of the general security agreement are that many lenders are reluctant to enter into agreements that would call into question their ability to obtain adequate compensation in the event of a delay in payment from the borrower.

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