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Assignment Of Accounts Receivable
As Security For Loan

01. Introduction--Description of Assignor's Indebtedness to Assignee. [Name] (Assignor) is indebted to [name] (Assignee) upon a Promissory Note of [date], signed by Assignor, payable to Assignee on [date], in the principal sum of ........ dollars ($.........), with interest at ........ percent (........%) per annum.

02. Introduction--Description of Accounts Receivable Assigned by This Instrument. Assignor owns rights to the payment of money presently due or to become due from third parties in the aggregate sum of ........ dollars ($.........), as detailed on Schedule A attached to this Instrument and made a part of it. The rights are collectively referred to as Accounts Receivable.

03. Assignment of Accounts Receivable. For a valuable consideration, Assignor assigns, transfers, and delivers to Assignee the Accounts Receivable and all amounts due to Assignor by virtue of the Accounts Receivable.

04. Assignment Secures Present and Future Indebtedness. This Assignment secures: (a) the Promissory Note described in Paragraph 1; (b) all loans and advances that Assignee may make to Assignor on or after the date of this Instrument; (c) all other indebtedness of Assignor to Assignee, whether now existing or arising after the date of this Instrument, whether the indebtedness is direct or indirect, primary or secondary, or fixed or contingent and whether it is evidenced by a

note, check, or draft; and (d) all renewals or extensions of the indebtedness described in subparagraphs (a), (b), and (c) of this Paragraph 4. The indebtedness and obligations described in this

Paragraph 4 are collectively referred to as the Secured Indebtedness.

05. Borrower's Covenants and Warranties. Borrower covenants and warrants that:

a. Good Title. Borrower is the owner of the Accounts Receivable detailed in Schedule A and has the right to assign them to Assignee.

b. Amounts of Receivables Are Accurate. The amount of each Account Receivable set out in Schedule A is true and accurate.

c. Amounts of Receivables Are Final. None of the Accounts Receivable relate to or are based upon consigned merchandise nor are...

(Excerpt)

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