Agenda - 06-24-1986 - Laserfiche WebLink

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lateral and to make it available to the Secured Party at a place or places to be designated by the Secured Party and proceed by suit or suits at law or in equity and exercise any and all of the rights, powers and remedies of a secured party as provided under the Uniform Commercial Code of North Carolina, as set forth in Article IX of Chapter 25 of the General Statutes of North Carolina, as amended, or by any other appropriate remedy, to protect and enforce its rights hereunder, whether for the specific performance of any cove- nant or agreement contained herein, or for an injunction against the violation of any of the terms hereof, or in aid of the exercise of any right, power or remedy available to it, or to enforce the payment of the principal of and inter- est on the Note, or to foreclose the security interest cre- ated by this Security Agreement as against all or any part of the Collateral and to have all or any part of the Collat- eral sold as hereinafter provided or otherwise, in any man- ner permitted by law. The Secured Party may, and it is hereby authorized and empowered to, demand that the Company, and upon such demand the Company shall, permit the Secured Party to hold, operate and manage the Collateral, and from time to time make all needful repairs and improvements as shall be deemed expedient by the Secured Party; and the Sec- ured Party may lease any part of the Collateral in the name of and for the account of the Company, and collect, receive and sequester the rent, revenues, receipts, earnings, in- come, products and profits therefrom, and out of the same and from any moneys received from any receiver of any part thereof pay, and set up proper reserves for the payment of, all proper costs and expenses of so taking, holding and man- aging the same, including reasonable compensation to the Secured Party, its agents and counsel, and any charges of • the Secured Party hereunder, and any taxes and assessments and other charges having priority over the security interest created by this Security Agreement which the Secured Party may deem it proper to pay, and all expenses of such repairs and improvements, and apply the remainder of the moneys so received in accordance with the provisions hereof. At the request of the Secured Party, the Company shall promptly execute and deliver to the Secured Party such instruments of title and other documents which are necessary to enable the Secured Party or an agent or representative designated by the Secured Party, at such time or times and place or places as the Secured Party may specify, to obtain possession of all or any part of the Collateral. If the Company shall for any reason fail to execute and deliver such instruments and documents after such request by the Secured Party, the Sec- ured Party may obtain a judgment conferring on the Secured Party the right to such possession immediately and requiring the Company to deliver such instruments and documents to the 6 .