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<br />, . 'Documents CC"llect1vely, the "Obligations") are DecoJred by,
<br />,;', '. :,among other things, that certain Deed of Trust and Security
<br />. ' Agreement from the Borrower to Lloyd L. Boltonr-Trustee,'and
<br />" . . '. ~ : by that certain General Security Agreeme-n"E"; from Borrower to
<br />:"';t4.~' ';;.,.~'!:'~ 'the Agent, which 88CUrity instruments also collectivl!ly .~rant
<br />.'~ ~r.~,~~to Banks a.secu~lty.interest.in, ~mong other things, th~
<br />~'" ~ '~ii'I)Property.':,', ,-- .. 12..\h.Uu.'"p......:.t .,;- '11 "':1"\:" ..
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<br />...."..:" " :',., .: (5) It i~ a '~ondition' precedenc to the making ,tit'
<br />.' ': -the Loans by the Banks under the Credit Agreement and ;to.' the
<br />" ,,' making of the loans by Ouaker evidenced by the Subordinated
<br />. ~. , . '. Deb~ that Borrower, Agent and Quaker shall have executed ilnd
<br />. ~~:l.i":, .',. delivered this Agreement.
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<br />5' ';;:,.-'" .',' NON, THEREFORE, in consJderation of the j remis,es
<br />~:/~.i" .' " and in order to induce the Banks to make the Loan" 'Jndiir.,the
<br />':"I';~":' . Credit Agreement and to induce Ouaker to make the Dans evi-
<br />:~f~:" .:', ' , denced by the Subordinated Debt. the Ag-ent, Ouakel' rind the
<br />~""'~~;::i'''''''...,' Borrower each hereby agrees as fOllows:.' .I': ". ..' ....
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<br />~I~' :~{.:,\" .'. '" '. SECTION 1. AqreemenU in ~~st'ect of COll~teral.
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<br />':. :~~,?:..~ Ca) The Agent, on ~ehalf of the Banks. shall have a
<br />;; "r;-."::" first and prior security interest in and to. that part of the
<br />~,~ .!: ~. Property of the Borrower described on Exhib1t B hereto (the
<br />.s.., :-. " ./' "Equipment") to secure all present and future obligations of
<br />~;:~....., ';'- Borrw"tr to Banks. including but not limited to the Obliga-
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<br />Cb) The Agent. on behdlI wf the Banks, and Ouaker agree
<br />that, if the Agent or Quaker shall enforce. their re.Vuc~.~~
<br />.' rights with respect to any of the Property other than the
<br />Equipment CProperty other than the Equipment shall be defined
<br />as the "Assets"), any proceeds ~p other amounts realized in
<br />respect of the Assets shall be'distributed in the following'
<br />order of priority: _" _ . '., .' '
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<br />Ci) First, to the payment in full of the Obliga-
<br />tions outstanding at such time to the extent. but only
<br />..(. ' to the extent,. of $1,300,000 Cthe nS~nior Obligation~");.. .~: ';"_' ,:/"
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<br />. 0'. ' C ii) Second, to the payment in full of the Subor-' '. .' ..' . :.. ,.:: ~
<br />. ' dinated Debt, subject to subparagraph Cc) belowJ,1,,:md .. · 0 '. o. : . , .
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<br />-:0-'1-- Ciii) Third, to the payment in fuq of the .Obr.lga-
<br />tions, if any, not included within the term IISenid\
<br />ObligationsJ ~ .'j
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<br />provided that if ~he Agent or Ouaker by purchasing such ~~sets
<br />at foreclosure shall be ~e~uired ~o pay amounts to a par~
<br />hereto in a priority pont1on Cas set forth in Paragraph "I.Cb)
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