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Security Agreement (2)

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Date: Wednesday, October 08, 2008
BE IT KNOWN, that for good consideration Jeffrey Jones of 19th Floor, 1608 Walnut Street, Phoenix AZ 85016 (Debtor) grants to Weatherman Time, Inc of 20 North Broadway, Suite 1800, Cleveland OH 44113-2241 and its successors and assigns (Secured Party) a security interest pursuant to Article 9 of the Uniform Commercial Code in the following property (Collateral), which shall include all after-acquired property of a like nature and proceeds and products thereof: [Description of the Collaterial]
This security interest is granted to secure payment and performance on the following obligations as well as all other debts now or hereinafter owed Secured Party from Debtor: Obligations
Debtor hereby acknowledges to Secured Party that:
1. The Debtor warrants that Debtor owns the collateral and it is free from any other lien, encumbrance and security interest or adverse interest and the Debtor has full authority to grant this security interest.
2. Debtor agrees to execute such financing statements as are reasonably required by Secured Party to perfect this security agreement in accordance with state law and the Uniform Commercial Code.
3. Upon default in payment or performance of any obligation for which this security interest is granted, or breach of any term of this security agreement. Secured Party may declare all obligations immediately due and payable and shall have all remedies of a secured party under the Uniform Commercial Code, as enacted in the Debtor's state, which rights shall be cumulative and not necessarily successive with any other rights or remedies.
4. This security agreement shall further be in default upon the death, insolvency or bankruptcy of any party who is an obligor to this agreement or upon any material decrease in the value of the collateral or adverse change in the financial condition of the Debtor.
5. Upon default the Debtor shall pay all reasonable attorneys' fees and costs of collection necessary to enforce this agreement, if needed.
IN WITNESS WHEREOF, this agreement is signed this Eighth day of October, 2008.
Jeffrey Jones   Hanna Westcott


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