Common use of NOTES AND SECURITY Clause in Contracts

NOTES AND SECURITY. Advances under this loan agreement, together with any existing indebtedness of the Borrower to the Bank, shall be evidenced by a promissory note or notes acceptable to the Bank, and shall be secured to the extent of all collateral presently held by the Bank; including but not limited to, all real estate mortgages and security agreements, as well as a perfected first security interest in all of the Borrower’s personal property in Kentucky. All property under lien to the Bank as security for the Loans shall be collateral for all indebtedness of the Borrower to the Bank.

NOTES AND SECURITY. Advances under this loan agreement, together with any existing indebtedness of the Borrower to the Bank, shall be evidenced by a promissory note or notes acceptable to the Bank, and shall be secured to the extent of all collateral presently held by the Bank; including but not limited to, all real estate mortgages and security agreements, as well as a perfected first security interest in all of the Borrower’s 's personal property in Kentucky. All property under lien to the Bank as security for the Loans shall be collateral for all indebtedness of the Borrower to the Bank.