Common use of Security Interest and Collateral Clause in Contracts

Security Interest and Collateral. To secure (check one): [ ] the payment and performance of each and every debt, liability and obligation of every type and description which Debtor may now or at any time hereafter owe to Secured Party (whether such debt, liability or obligation now exists or is hereafter created or incurred, and whether it is or may be direct or indirect, due or to become due, absolute or contingent, primary or secondary, liquidated or unliquidated, or joint, several or joint and several; all such debts, liabilities and obligations being herein collectively referred to as the "Obligations"). [X] the debt, liability or obligation of the Debtor to secured party evidenced by the following NOTE OF EVEN DATE I/A/O $100,000.00, and any extensions, renewals or replacements thereof (herein referred to as the "Obligations"). Debtor hereby grants Secured Party a security interest (herein called the "Security Interest") in (check one): [ ] all property of any kind now or at any time hereafter owned by Debtor, or in which Debtor may now or hereafter have an interest, which may now be or may at any time hereafter come into the possession or control of Secured Party or into the possession or control of Secured Party's agents or correspondents, whether such possession or control is given for collateral purposes or for safekeeping, together with all rights in connection with such property (herein called the "Collateral"). [X] the property owned by Debtor and held by Secured Party that is described as follows: FIRST COMMUNITY BANK OF AMERICA CERTIFICATE OF DEPOSIT #30023878 ______________________________________________________________________________ together with all rights in connection with such property (herein called the "Collateral").

Security Interest and Collateral. To secure (check one): [ ] the payment and performance of each and every debt, liability and obligation of every type and description which Debtor ---------------------------------------------------------------------------- ("Debtor") may now or at any time hereafter owe to Secured Party (whether such debt, liability or obligation now exists or is hereafter created or incurred, and whether it is or may be direct or indirect, due or to become due, absolute or contingent, primary or secondary, liquidated or unliquidated, or joint, several or joint and several; all such debts, liabilities and obligations being herein collectively referred to as the "Obligations"). [Xx] the debt, liability or obligation of the Debtor BODYBILT SEATING INC. (MODIFICATION) ("Debtor") to secured party Secured Party evidenced by or arising under the following following: PROMISSORY NOTE OF EVEN DATE I/A/O $100,000.00NUMBER #33118-68 DATED 5-31-95, and any extensions, renewals or replacements thereof (herein referred to as the "Obligations"). Debtor , Pledgor hereby grants Secured Party a security interest (herein called the "Security Interest") in (check one): [ ] all property of any kind now or at any time hereafter owned by DebtorPledgor, or in which Debtor Pledgor may now or hereafter have an interest, which may now be or may at any time hereafter come into the possession or control of Secured Party or into the possession or control of Secured Party's agents or correspondents, whether such possession or control is given for collateral purposes or for safekeeping, together with all proceeds of and other rights in connection with such property (herein called the "Collateral"). [X] the property owned by Debtor Pledgor and held by Secured Party that is described as follows: FIRST COMMUNITY BANK OF AMERICA CERTIFICATE OF DEPOSIT JACK▇▇▇ ▇▇▇IONAL LIFE INSURANCE POLICY #30023878 ______________________________________________________________________________ 8636700, together with all rights in connection with such that property (herein called the "Collateral").

Security Interest and Collateral. To secure ([check one): ]: [ ] the payment and performance of each and every debt, liability and obligation of every type and description which Debtor may now or at any time hereafter owe to Secured Party (whether such debt, liability or obligation now exists or is hereafter created or incurred, and whether it is or may be direct or indirect, due or to become due, absolute or contingent, primary or secondary, liquidated or unliquidated, or joint, several or joint and several); all such debts, liabilities and obligations being herein collectively referred to as the "Obligations"). , [X] the debt, liability or obligation of the Debtor to secured party evidenced by the following following: NOTE DATED 12/31/96 IN THE AMOUNT OF EVEN DATE I/A/O $100,000.001,900,000.00, and any extensions, renewals or replacements thereof (herein referred to as the "Obligations"). Debtor hereby grants Secured Party a security interest (herein called the "Security Interest") in ([check one): ]: [ ] all property of any kind now or at any time hereafter owned by Debtor, or in which Debtor may now or hereafter have an interest, interest which may now be or may at any time hereafter come into the possession or control of Secured Party or into the possession or control of Secured Party's agents or correspondents, whether such possession or control is given for collateral purposes or for safekeeping, together with all rights in connection with such property (herein called the "Collateral"). , [X] the property owned by Debtor and held by Secured Party that is described as follows: FIRST COMMUNITY BANK 9,608 SHARES OF AMERICA THE STOCK OF SAGEBRUSH, INC. CERTIFICATE OF DEPOSIT #30023878 ______________________________________________________________________________ S0019 together with all rights in connection with such property (herein called the "Collateral").

Security Interest and Collateral. To secure (check one): [ ] the payment and performance of each and every debt, liability and obligation of every type and description which Debtor _____________________________ ("Debtor") may now or at any time hereafter owe to Secured Party (whether such debt, liability or obligation now exists or is hereafter created or incurred, and whether it is or may be direct or indirect, due or to become due, absolute or contingent, primary or secondary, liquidated or unliquidated, or joint, several or joint and several; all such debts, liabilities and obligations being herein collectively referred to as the "Obligations"). [Xxx] the debt, liability or obligation of the Debtor BODYBILT SEATING INC. ("Debtor") to secured party Secured Party evidenced by or arising under the following following: PROMISSORY NOTE OF EVEN DATE I/A/O $100,000.00NUMBER 033-▇▇▇-▇▇ ▇▇TED 6-30-96 19 , and any extensions, renewals or replacements thereof (herein referred to as the "Obligations"). Debtor , Pledgor hereby grants Secured Party a security interest (herein called the "Security Interest") in (check one): [ ] all property of any kind now or at any time hereafter owned by DebtorPledgor, or in which Debtor Pledgor may now or hereafter have an interest, which may now be or may at any time hereafter come into the possession or control of Secured Party or into the possession or control of Secured Party's agents or correspondents, whether such possession or control is given for collateral purposes or for safekeeping, together with all proceeds of and other rights in connection with such property (herein called the "Collateral"). [Xxx] the property owned by Debtor Pledgor and held by Secured Party that is described as follows: FIRST COMMUNITY BANK OF AMERICA CERTIFICATE OF DEPOSIT JACK▇▇▇ ▇▇▇IONAL LIFE INS. CO. POLICY #30023878 ______________________________________________________________________________ 0008636700, together with all rights in connection with such that property (herein called the "Collateral").

Security Interest and Collateral. To secure (check one): [ ] the payment and performance of the Indebtedness which MISCOR GROUP, LTD., an Indiana corporation (“MISCOR”), MAGNETECH INDUSTRIAL SERVICES, INC., an Indiana corporation (“MIS”), ▇▇▇▇▇▇▇ ELECTRIC, LLC, an Indiana limited liability company (“▇▇▇▇▇▇▇”), HK ENGINE COMPONENTS, LLC, an Indiana limited liability company (“HK”), MAGNETECH POWER SERVICES, LLC, an Indiana limited liability company (“MPS”) and IDEAL CONSOLIDATED, INC., an Indiana corporation (“Ideal”), 3-D SERVICE, LTD., an Ohio limited liability company (“3D”), and AMERICAN MOTIVE POWER, INC., a Nevada corporation (“AMP” and together with MISCOR, MIS, ▇▇▇▇▇▇▇, ▇▇, MPS, Ideal and 3D, the “Borrowers” and each and every debt, liability and obligation of every type and description which Debtor a “Borrower”) may now or at any time hereafter owe to the Secured Party (whether such debtParty, liability or obligation now exists or is hereafter created or incurred, and whether it is or may be direct or indirect, due or to become due, absolute or contingent, primary or secondary, liquidated or unliquidated, or joint, several or joint and several; all such debts, liabilities and obligations being herein collectively referred to as the "Obligations"). [X] the debt, liability or obligation of the Debtor to secured party evidenced by the following NOTE OF EVEN DATE I/A/O $100,000.00, and any extensions, renewals or replacements thereof (herein referred to as the "Obligations"). Debtor hereby grants the Secured Party a security interest (herein called the "“Security Interest"”) in (check one): [ ] all property of any kind now or at any time hereafter owned by the Debtor, or in which the Debtor may now or hereafter have an interest, which may now be or may at any time hereafter (i) come into the possession or control of the Secured Party or into the possession or control of the Secured Party's ’s agents or correspondents, whether such possession or control is given for collateral purposes or for safekeeping; or (ii) be transferred or assigned to the Secured Party by any means permitted under Article 8 of the Uniform Commercial Code including, but not limited to, all of the stock and membership interests held by the Debtor in each of the other Borrowers, together with all rights in connection with such property (herein called the "“Collateral"”). [X] "Indebtedness" is used herein in its most comprehensive sense and means any and all advances, debts, obligations and liabilities of the property owned Borrowers to the Secured Party, heretofore, now or hereafter made, incurred or created, whether voluntary or involuntary and however arising, whether due or not due, absolute or contingent, liquidated or unliquidated, determined or undetermined, including under any swap, derivative, foreign exchange, hedge, deposit, treasury management or other similar transaction or arrangement at any time entered into by Debtor the Borrowers, or any of them, with the Secured Party, and held by Secured Party that is described as follows: FIRST COMMUNITY BANK OF AMERICA CERTIFICATE OF DEPOSIT #30023878 ______________________________________________________________________________ together whether the Borrowers may be liable individually or jointly with all rights in connection with others, or whether recovery upon such property (herein called the "Collateral")Indebtedness may be or hereafter becomes unenforceable.