Common use of Location and Use of Collateral Clause in Contracts

Location and Use of Collateral. Debtor Represents and Warrants That: The Collateral will be used primarily for (check one): personal, family, or household purposes: business. ▇▇▇▇▇▇’s residence (principal place of business) is that shown with ▇▇▇▇▇▇’s name above. The Collateral is or will be located at county, State/Commonwealth of . Debtor will not permit any of the Collateral to be removed from this county without the prior written consent of Secured Party. The Collateral may be attached to real estate commonly known as (street address) in such a manner as to become a fixture. Debtor will furnish Secured Party a legal description of the real estate. The name of the record owner of the real estate is . On demand of Secured Party, ▇▇▇▇▇▇ will furnish a written disclaimer of any interest in the Collateral by the record owner and any encumbrancer of the real property. The proceeds of the obligation(s) secured by this agreement are to be used to purchase all or part of the Collateral. Secured Party is authorized to disburse the proceeds directly to the installers or suppliers of the Collateral.

Location and Use of Collateral. Debtor Represents and Warrants That: The Collateral will be used primarily for (check one): personal, family, or household purposes: business. ▇▇▇▇▇▇Debtor’s residence (principal place of business) is that shown with ▇▇▇▇▇▇Debtor’s name above. The Collateral is or will be located at   county, State/Commonwealth of   . Debtor will not permit any of the Collateral to be removed from this county without the prior written consent of Secured Party. The Collateral may be attached to real estate commonly known as   (street address) in such a manner as to become a fixture. Debtor will furnish Secured Party a legal description of the real estate. The name of the record owner of the real estate is   . On demand of Secured Party, ▇▇▇▇▇▇ Debtor will furnish a written disclaimer of any interest in the Collateral by the record owner and any encumbrancer of the real property. The proceeds of the obligation(s) secured by this agreement are to be used to purchase all or part of the Collateral. Secured Party is authorized to disburse the proceeds directly to the installers or suppliers of the Collateral.