SAMPLE SECURITY AGREEMENT
In exchange for valuable consideration, the receipt and sufficiency of which is hereby
acknowledged by the undersigned, __________________________________ (the “Debtor”) hereby
grants to _______________________________________________ (the “Creditor”) a security interest in
___________________________________________________________________________ to secure the
payment and performance of the Debtor’s obligations described as follows (the “Obligations”):
To make payments pursuant to the Note between the parties, dated June 6, 2007.
Upon any default by the Debtor in the performance of any of the Obligations, the Creditor
may declare all obligations of the Debtor immediately due and payable and shall have the remedies
of a secured party under the Uniform Commercial Code enacted in the state the laws of which
govern the terms of this agreement.
This agreement is executed by the parties under seal on ________________ .
Seller: Scrupulous Corporation Buyer: FBN, Inc.
Henry Hardy, President Marcia Bender, President
Calvin Collier, Secretary Matthew G. Bender, Secretary
(Corporate Seal) (Corporate Seal)