COMMERCIAL SECURITY AGREEMENT NUMBER REV-12121970-SA
NUMBER REV-12121970-SA
NON-NEGOTIABLE-NON-TRANSFERABLE
FILED FOR RECORD
Parties
DEBTOR, U.S. ADMINISTRATIVE
VESSEL HELD IN TRUST IN THE DEPOSITORY TRUST COMPANY (DTC)
RONALD EDWARD VALENTINE JR., (and all
derivatives thereof)
11323 HUSTON ST. UNIT 6
NORTH HOLLYWOOD, CA. 91601
Secured Party, Executor
/ Administrator
Ronald Edward
Valentine Jr., Executor / Administrator
c\o 11323 HUSTON
ST. UNIT 6
NORTH HOLLYWOOD, CA. near [91601]
(Without Prejudice)
AGREEMENT
This Security Agreement (“AGREEMENT”) is made and entered
into on April 24, 2019 between the “real man” Ronald Edward Valentine Jr., Executor /
Administrator (hereinafter known as the Secured Parties and the juristic
Persons /Strawman / Dummy Corporations, LLC, U.S. ADMINISTRATIVE VESSEL RONALD EDWARD VALENTINE JR, (hereinafter known as DEBTOR).
NOW, THEREFORE,
it is hereby
agreed as follows: In consideration for
the Secured Party agreeing to provide certain Collateral and goods, identified
herein below, and certain accommodations to the Debtor including, but not
limited to, allowing the DEBTOR to
act as an agent, utilized for the purpose of transmitting commercial activity
for the benefit of the Secured Party to the extent that context Otherwise
required, for the purpose of conducting traffic in commercial activity, as a
pipeline for the transmission of goods and chattel property and paper, and as
security for payment of all sums due, or to become due or owing by Debtor to
Secured Party, Debtor hereby grants to Secure Party for valuable consideration
a security interest in the Collateral described herein below and agrees to
provide to Secured Party indemnification Bond also contained herein below. Securing the indebtedness and agrees that the
Secured Party shall have the rights stated in this Agreement with respect to
the collateral in addition to all other rights which Secured Party may have by
law.
The security interest granted herein secures
any and all indebtedness and liabilities, whatsoever, owed by Debtor to Secured
Party whether direct or indirect, absolute or contingent, due or become due,
now existing or hereafter evidenced.
This security interest is also given to secure any other Debts which may
be owed by Debtor to Secured party from time to time as stated herein below.
COLLATERAL
ALL Accounts, Contract Rights Chattel Paper,
General Intangibles, Inventory, Equipment and Fixtures, Whether owned or
acquired later, all accessions, additions, replacements, and substitution; all
records of any kind relating to any of the foregoing; all proceeds, (including
insurance, bond, general Intangibles and account proceeds), together with all
the other real and personal property with all and singular the improvements,
ways, sweet, alleys driveways, passages, waters, watercourse, rights,
liberties, privileges, hereditaments, and appurtenances, whatsoever thereunto
belonging, or in any wise appertaining, and the reversions and remainders,
rents issues and profits thereof, and all estate rights, title interest
property, claim and demand whatsoever of the said Debtor, in law, equity, or
otherwise however, of, in and to the same and every part thereof including but
not limited to the following:
1) Preferred
Stock Certificate issued as Birth certificate for RONALD EDWARD VALENTINE JR number as received by the STATE OF CALIFORNIA Vital Records Department on DECEMBER 12, 1970 and the pledge
represented by same including the Bond issued and sold by the UNITED STATES
Department of the Treasury and Commerce bought by the Federal Reserve Bank and
held in Trust at 55 Water Street, New York, NY 10041 by the Depository Trust
Company (DTC) and traded on the circle 750 Stock Exchange for the Settlement of
ALL DEBT PUBLIC AND PRIVATE predicated on the United States and the Vessel
described above as the debtor, but not limited to the pignus, hypotheca,
hereditiments, res, and the energy and all products derived therefrom,
including, but not limited to, the BAILEE all cap name RONALD EDWARD VALENTINE JR, VALENTINE, EDWARD, VALENTINE JR. and Ronald Edward Valentine Jr., or and any
variation/derivation thereof, and all signatures on all contracts, Trust, and
agreements predicated on the United States and the Vessel described above as
the debtor. 2) CALIFORNIA Driver
License Number A5697435. 3) Private Registered Indemnity Bond 10470344444. 6)
Obligation of Debtor in favor of Ronald Edward Valentine Jr., Secured Party as
set forth in the express, written Security Agreement Number REV-12121970-SA, amount of said obligation: Two
Hundred Billion United States Dollars ($200,000,000,000.00). 7) All property is accepted for value and
is exempt from levy. Adjustment of this filing from Public Policy HJR-192
Public Law 73-10, the LAW OF TRUST and the Maryland Uniform Commercial Code
10-104. All proceeds, products,
accounts, and fixtures and the orders therefrom are released to the Secured
Party’s United States Vessel and all account information held by the Federal
Reserve Bank, Depository Trust Company and the United States Department of the
Treasury by Power of Attorney is HEREBY REVOKED and ALL TRUSTEES ARE FIRED due
to the several counts of Bankruptcy obstruction. Nominated and appointed
Trustee is transferred to the Secured Party Authorize Agent also known as the Authorized
Government Contracting Agent.
Private Indemnity Bond 10470344444
INDEMNITY CLAUSE
Know all men by these presents, that, RONALD EDWARD
VALENTINE JR.,
(DEBTOR) am held firmly bound into Ronald Edward
Valentine Jr.,
(Secured Party, Executor / Administrator)
in the sum of present collateral Values and any debts or losses claimed by any
and all persons against the Commercial and or peaceful Trade transactions and
Investments of aforesaid Collateral up to the sum of Two Hundred Billion Dollars ($200,000,000,000.00) lawful money of
the United States, for the payment of which; will and truly be made, I bind
myself, my Moorish heirs, executors, administrators and third party assigns,
jointly and severally and firmly by these presents.
The conditions of the above bond is, that
whereas the Collateral described herein above and utilized for the purpose of
transmitting goods in Commercial/Trade Activity by the Debtor are in Pursuance
of the Statutes in such case made, provided and indentured to the Secured Party
by which indenture the said Debtor covenanted to do certain things in this
agreement.
Conditions of this obligation are such that if
Secured Party suffers any loss of Vested Rights in the said Collateral Property
or monetary Losses due in debts claimed against the aforesaid Collateral
Property, or the Debtor, who binds himself by this obligation to make advance
payments from Debtor’s U. S. Treasury Accounts, established under IMF, BMF, IRAF, EPMF (temporary,
Permanent and current) accounts to any and all who make debt claims against any
of the Collateral or Vested Rights in said Collateral of Secured Party, this
obligation shall bind the Debtor in fully and faithfully comply with all
constitutional and treaties laws.
This bond shall effect as of the date hereon
and shall remain in full force and effect until the surety (Secured Party) is
released from liability by the written order of the United States for America Governmental
services and provided that the creditor may cancel this bond at any time and be
relived of further liability hereunder by delivery within thirty (30) days
written notice to the Secured Party.
Such cancellation shall not effect any bond before the end of thirty, (30)
day period for an amount equal to or greater that the value of this instrument
unless the parties agree otherwise.
The Debtor (Indemnifying Party), without the
benefit of discussion or division, does hereby agree, covenant and undertake to
indemnify, defend and hold the Secured Party (Indemnified Party) harmless from
and against any and all claims, losses, liabilities, costs, interests and
expenses (hereinafter referred to as “claim”) including, without restriction,
all legal costs, interests, penalties ands fines suffered or incurred by the
Secured Party arising as a result of the Secured Party having its personal
guarantee with respect to any loan or general indebtedness of the Debtor
including, without in any way restricting the generality of the foregoing
amount owing by the Debtor to all creditors.
The Indemnified Party (Secured Party/Surety)
shall promptly advise the Indemnifying Party (Debtor) of any claim and provide
the same with full details thereof, including copies of any document,
correspondence, suit or action received by or served upon the Indemnified Party
(Secured Party). The Indemnified Party
(Secured Party) shall fully cooperate with the Indemnifying Party (debtor) in
any discussion, negotiations or other proceedings relating to any claim.
OBLIGATIONS OF THE DEBTOR
Debtor warrants and covenants to Secured Party
as follows:
ORGANIZATION. Debtor is a corporation,
business trust or trust which is duly organized, validly existing, and in good
standing under the laws of the United States.
AUTHORIZATION. The execution, delivery, and
performance of this Agreement by DEBTOR have been duly authorized by all
necessary action by an organization, or bylaws, or (a) any agreement or other
instrument biding upon Debtor or (b) any law, governmental regulation, court
decree, or order applicable to Debtor.
PERFECTION OF
SECURITY INTEREST. Debtor agrees to execute such statements and to take whatever other
actions are requested by Secured Party to perfect and continue Secured Party’s
interest in the Collateral. Upon request of Secured Party, Debtor will deliver
to Secured Party any and all of the documents evidencing or constituting the
Collateral, and Debtor will note Secured Party’s interest upon any and all
chattel paper if not delivered to Secured Party for possession by Secured
Party. Debtor promptly will notify Secured Party of any change in Debtor’s name
including any change to the assumed business names of Debtor. This is a
continuing Security Agreement and will continue in effect even though all of
any part if the Indebtedness is paid in full and even though for a period of
time Debtor may not be Indebted to Secured Party.
ENFORCEABILITY
OF COLLATERAL.
To the extent the Collateral consists of accounts, contract rights, chattel
paper, or general intangibles, the Collateral is enforceable in accordance with
its terms, is genuine, and complies with applicable laws concerning form,
content, and manner of preparation and execution, and all persons appearing to
be obligated on the Collateral have authority and capacity to contract and are
in fact obligated as they appear to be on the Collateral.
REMOVAL OF
COLLATERAL.
Debtor shall keep the Collateral (or to the extent the Collateral consists of
intangible property such as accounts, the records concerning the Collateral) at
Debtor’s address shown above, or at such locations as are acceptable to
Principals. Except in the ordinary
course of its business, including sales of inventory, Debtor shall not remove
the Collateral from its existing locations without the prior written consent of
the Secured Party. To the extent that
the Collateral consists of vehicles, or other titled property, Debtor shall not
take or permit any action which would require registration or sale or disposal,
without the prior written consent of Secured party.
TRANSACTIONS
INVOLVING COLLATERAL. Except for inventory sold or accounts collected in the ordinary course
of Debtor’s business, Debtor shall not sell, offer to sell, or otherwise
transfer or dispose of the Collateral. Debtor shall not pledge, mortgage,
encumber or otherwise permit the Collateral to be subject to any lien, security
interest, encumbrance, or charge, other than the security interest provided for
in this Agreement, without the prior written consent of Secured Party. This
includes security interests even if junior in right to the security interests
granted under this Agreement. Unless waived by Secured Party, all proceeds from any disposition of the Collateral (for
whatever reason) shall be held in trust for Secured Party and shall not be
commingled with any other funds; provided however, this requirement shall not
constitute consent by Secured Party to any sale or other disposition. Upon
receipt, Debtor shall immediately deliver any such proceeds to Secured Party.
TITLE. Debtor represents and
warrants to Secured Party that it holds good and marketable title to the
Collateral, free and clear of all liens and encumbrances except for the lien of
this Agreement. No financing statement covering any of the Collateral is on
file in any public office other than those which reflect the security interest,
created by this Agreement or which Secured Party has specifically consented.
Debtor shall defend Secured Party’s right in the Collateral against the claims
and demands of all other persons.
MAINTENANCE AND
INSPECTION OF COLLATERAL. Debtor shall maintain all tangible Collateral in good condition and
repair. Debtor will not commit or permit damage to or destruction of the
Collateral or any part of the Collateral. Secured Party and its designated
representatives and agents shall have the right at all reasonable times to
examine, inspect, and audit the Collateral wherever located. Debtor shall
immediately notify Secured Party of all cases involving the return, rejection,
repossession, loss or damage of or any Collateral, of any request for credit or
adjustment or of any other dispute arising with respect to the Collateral; and
generally of all happenings and events affecting the Collateral or the value or
the amount of the Collateral.
TAXES,
ASSESSMENTS, AND LIENS. Debtor will pay when due all taxes, assessments and liens upon the
collateral, its use or operation, upon this Agreement, upon any promissory note
or notes evidencing the Indebtedness, or upon any of the other Related
Documents. Debtor may withhold any such
payment or elect to contest any lien if Debtor is in good faith conducting an
appropriate proceeding to contest the obligation to pay and so long as Secured
Party’s interest in the Collateral is not jeopardized in Secured Party’s sole
opinion. If the collateral is subject to a lien which is not discharge within
fifteen (15) days, Debtor shall deposit with Secured Party’s cash, a sufficient
corporate surety bond or other security satisfactory to Secured Party in an
amount adequate to provide for the discharge of the lien plus any interest, cost,
reasonable attorney’s fees or other charges that could accrue as a result of
foreclosure or sale of the Collateral. In any contest Debtor shall define
itself and Debtor shall satisfy any final adverse judgment before enforcement
against the Collateral.
COMPLIANCE WITH
GOVERNMENTAL REQUIREMENTS. Debtor should comply promptly with all laws, ordinances and regulations
of all government authorities applicable to the production, disposition or use
of the Collateral. Debtor may contest in good faith any such law, ordinance or
regulation and withhold compliance during any proceeding , including
appropriate appeals, so long as Secured Party’s interest in the collateral, in
Secured Party’s opinion, is not jeopardized.
DEBTOR’S RIGHT
TO POSSESSION.
Until default, Debtor may have possession of the tangible personal property and
beneficial use of all the Collateral and may use it in any lawful manner not
inconsistent with this Agreement or Related Documents, provided that Debtor’s
right to possession and beneficial use shall not apply to any Collateral where
possessions of the Collateral by Secured Party is required by law to perfect
Secured Party’s security interest in such Collateral. If secured Party at any
time has possession of any Collateral, whether before or after an Event of
Default, Secured Party shall be deemed to have exercise reasonable care in the
custody and preservation of the Collateral, if Secured Party takes such action
for that purpose as Debtor shall request or as Secured Party, in Secured
Party’s sole discretion, shall deem appropriate under the circumstances, but
failure to honor any request by Debtor shall not of itself be deemed to be a
failure to exercise reasonable care. Secured Party shall not be required to
take any steps necessary to preserve any rights in the Collateral against prior
parties, nor to protect, preserve or maintain any security interest given to
secure the Collateral.
EXPENDITURES BY
SECURED PARTY.
If Secured Party must discharge or pay any amounts under this Agreement,
including without limitation all taxes, liens, security interests,
encumbrances, and other claims, at any time levied or placed on the Collateral,
secured Party also may (but shall not be obligated to) pay all cost for
insuring, maintaining and preserving the Collateral. All expenditures incurred
or paid by Secured Party for any purposes will then bear interest at the rate
charge under the law.
SUBORDINATION OF DEBTOR’S DEBTS TO SECURED PARTY
Debtor agrees that the indebtedness of the
Debtor to the Secured Party, whether now existing or hereinafter created, shall
be prior to any such claim that Third Party may now have or hereafter acquire
against Debtor whether or not Debtor becomes insolvent. Debtor hereby expressly
subordinates any claim Debtor may have against Secured Party, upon any account
whatsoever, to any claim that the Secured Party may now or hereafter have
against Debtor. In the event of insolvency and consequent liquidation of the
assets of Debtor, through bankruptcy, by an assignment for the benefit of
creditors, by voluntary liquidation, or otherwise, the assets of the Debtor
applicable to the payment of the claims of both Secured Party and Debtor shall
be paid to Secured Party and shall be first applied by Secured Party to the indebtedness
of Debtor to Secured Party. Debtor does
hereby assign to Secured Party all claims which it may have or acquire against
Debtor or against any assignee or trustee in the bankruptcy of Debtor, provided
however, that such assignment shall be effective only for the purpose of
assuring to Secured Party full payment in legal tender of the
indebtedness. If the Secured Party so
request, any notes or credit agreements now or hereafter evidencing any debts
or obligations of Debtor to Third Party shall be marked with a legend that the
same are subject to this Agreement and shall be delivered to Secured
Party. Debtor agrees, and the Secured
Party hereby is authorized, in the name of the Debtor, from the time to execute
and file financing statements and continuation statements and to execute such
other documents and to take such other actions as Secured Party deems necessary
or appropriate to perfect, preserve and enforce the rights under this
Agreement.
MISCELLANEOUS PROVISIONS
The following miscellaneous provisions are a
part of this Agreement:
AMENDMENTS. This Agreement together with any Related Documents
constitutes the entire understanding and agreement of the parties as to the
matters set forth in this Agreement. No
alteration of or amendment to this Agreement expressly or orally shall be
effective unless expressed in writing and signed by the party or parties sought
to be charged or bound by the alteration or amendment.
APPLICABLE LAW. This Agreement has been
delivered to Secured Party and accepted by Secured Party in Maryland. If there is a lawsuit, Debtor agrees upon
Secured Party’s request to submit to the jurisdiction of the State of Maryland courts
in the Judicial District at or nearest Secured Party’s address shown above, or
at Secured Party’s option to the jurisdiction of the courts wherever any
Property is located. This Agreement
shall be governed by and construed in accordance with the laws of the State of
Maryland.
ATTORNEY’S
FEES; EXPENSES. Debtor agrees to pay upon demand all of Secured Party’s cost and
expenses, including reasonable attorney’s fees and Secured Party’s legal
expenses, incurred in connection with the enforcement of this Agreement. Secured Party may pay someone else to help
enforce this Agreement and Debtor shall pay the cost and expenses of such
enforcement. Costs and expenses include
Secured Party’s reasonable attorney’s fees and legal expenses whether or not
there is a lawsuit, including reasonable attorney’s fees and legal expenses for
bankruptcy proceedings (and including efforts to modify or vacate any automatic
stay or injunction), appeals, and any anticipated post-judgment collection
services. Debtor also shall pay all
court costs and such additional fees, as may be directed by the court.
NOTICES. Except for revocation
notices by Debtor, all notices required to be given by either party to the
other under this Agreement shall be in writing and shall be effective when
deposited with a nationally recognized overnight courier, or when deposited in
the United States mail, first class postage prepaid, addressed to the party to
whom the notice is to be given at the address shown above or to such other
addresses as either party may designate to the other in writing.
INTERPRETATION. In all cases where there is
more than one Debtor or the Debtor’s principles, the United States Inc. or MD is in any way involved, then
all words used in this Agreement in the singular shall be deemed to have been
used in the plural where the context and construction so require; and where
there is more than one Debtor named in a Claim or when this Agreement is
executed on more than one Debtor the words “Debtor” respectively shall mean all
and any one or more of them. The words
Debtor and Secured Party include the heirs, successors, assigns, and
transferees of each of them. Caption
headings in this Agreement are for convenience purposes only and are not to be
used to interpret or define the provisions of this Agreement.
Severability. Should any portion of this
Agreement be judicially determined to be invalid or unenforceable, the
remainder of this Agreement shall not be affected by such determination and
shall remain in full force and effect.
If feasible, any such offending provision shall be deemed to be,
modified to be within the limits of enforceability, or validity; however, if
the offending provision cannot be so modified, it shall be stricken and all
other provisions of this Agreement in all other respects shall remain valid and
enforceable.
Waiver. Secured Party shall not be
deemed to have waived any rights under this Agreement unless such waiver is
given in writing and signed by Secured Party.
No delay or omission on the part of Secured Party in exercising any
right shall operate as a waiver of such right or any other right. A waiver by Secured Party of a provision of
this Agreement shall not prejudice or constitute a waiver of Secured Party’s
right otherwise to demand strict compliance with that provision or any other
provision of this Agreement. No prior
waiver, by Secured Party, nor any course of dealing between Secured Party and
Debtor shall constitute a waiver of any of Secured Party’s right or any
Debtor’s obligations as to any future transactions. Whenever the consent of Secured Party is
required under this Agreement, the granting of such consent by Secured Party in
any instance shall not constitute continuing consent to subsequent instances
where such consent is required and in all cases such consent may be granted or
withheld in the sole discretion of Secured Party.
DEFAULT
The following shall be events of default
hereunder; (a) failure by Debtor to pay any debt secured hereby when due; (b)
failure by Debtor to perform any obligations secured hereby when the same
should be performed.
EVENT OF
DEFAULT. The
words “Event of Default” mean and include any Events of Default set forth below
in the section titled “Events of Default.”
DEBTOR. The word Debtor means and
includes without limitation, each and all of the DEBTOR and their Principals,
sureties, and accommodation parties in connection with the indebtedness.
INDEBTEDNESS. The word “Indebtedness”
means the indebtedness evidenced by this Agreement, including all principal and
interest, together with all other indebtedness and costs and expenses for which
Debtor is responsible under this Agreement or under any of the related
documents. In addition, the word
“Indebtedness” includes all other obligations, debts and liabilities, plus
interest thereon, of DEBTOR’S ORGANIZATION, or any one or more of them, to Secured
Party, as well as all claims by Secured Party against Debtor, or any one or
more of them, whether existing now or later, whether they are voluntary or
involuntary, due or not due, direct or indirect, absolute or contingent,
liquidated or unliquidated, whether Debtor may be liable individually or
jointly with others, whether Debtor may be obligated as Debtor, surety,
accommodation party or otherwise; whether recovery upon such indebtedness may
be or hereafter may become barred by statue of limitations; and whether such
indebtedness may be or hereafter may become otherwise unenforceable.
RELATED
DOCUMENTS.
The words “Related Documents” mean and include without limitation all
promissory notes, credit agreements, loan agreements, guaranties, security
agreements, registrations, securities with or without a pledge, field
warehousing documents and factor’s liens, accounts, U.C.C. contract accounts,
mortgages, deeds of trust, and all other instruments, agreements and documents,
whether now or hereafter existing, executed in connection with the
indebtedness.
EVENTS OF DEFAULT
Each of the following shall constitute an
Event of Default under this Agreement:
1.
DEFAULT ON INDEBTEDNESS. Failure of Debtor to make
any payment when due on the Indebtedness.
2.
OTHER DEFAULTS. Failure of Debtor to comply
with or to perform any other term, obligation, covenant or condition contained
in this Agreement or in any of the Related Documents or in any other agreement
between Secured Party and Debtor. If any
failure, other than a failure to pay money, is curable and if Debtor has not
been given prior notice of a breach of the same provision of this Agreement, it
may be cured (and no Event of Default will have occurred) if Debtor, after
Secured Party sends written notice demanding cure of such failure: (a) cures
the failure within fifteen (15) days; or (b), if the cure requires more than
fifteen (15) days, immediately initiate steps sufficient to cure the failure
and thereafter continues and completes all reasonable and necessary steps
sufficient to produce compliance as soon as reasonably practical.
3.
FALSE STATEMENTS. Any warranty, representation
or statement made or furnished to Secured Party by or on behalf of Debtor under
this Agreement is false or misleading in any material respect, either now or at
the time made or furnished.
4.
DEFECTIVE COLLATERALIZATION. This Agreement or any of the
Related Documents ceases to be in full force and effect (including failure of
any collateral documents to create a valid and perfected security interest or
lien) at any time and for any reason.
5.
INSOLVENCY. The dissolution or
termination of Debtor’s existence as a going business, the insolvency of
Debtor, the appointment of a receiver for any part of Debtor’s property, any
assignment for the benefit of creditors, or the commencement of any proceeding
under any bankruptcy or insolvency laws by or against Debtor.
6.
CREDITOR PROCEEDINGS. Commencement of foreclosure,
whether by judicial proceeding, self-help, repossession or any other method, by
any creditor of Debtor against the Collateral or any other collateral securing
the Indebtedness. This includes a
garnishment of any of Debtor’s deposit account with Secured Party. However, this Event of Default shall not
apply if there is a good faith dispute by Debtor as to the validity or
reasonableness of the claim which is the basis of the creditor proceeding and
if Debtor gives Secured Party written notice of the creditor proceeding and
deposits with Secured Party monies or a surety bond for the creditor proceeding,
in an amount determined by Secured Party, in its sole discretion, as being an
adequate reserve or bond for the dispute.
7.
EVENTS AFFECTING DEBTOR. Any of the preceding events
occurs with respect to any Debtor of any of the Indebtedness or such Debtor dies
or becomes incompetent. Secured Party,
at its option, may, but shall not be required to, permit the Debtor’s estate to
assume unconditionally the obligations arising under the Agreement in a manner
satisfactory to Secured Party, and, in doing so, cure the Event of Default.
8.
INSECURITY. Secured Party, in good
faith, deems itself insecure.
RIGHTS AND REMEDIES ON DEFAULT
If an Event of Default occurs under this
Agreement, at any time thereafter, Secured Party shall have all the rights of a
Secured Party under the Uniform Commercial Code. In addition and without limitation, Secured
Party may exercise any one or more of the following rights and remedies:
1.
ACCELERATE INDEBTEDNESS. Secured Party may declare
the entire indebtedness, including any prepayment penalty, which Debtor would
be required to pay, immediately due and payable, without notice.
2.
ASSEMBLE COLLATERAL. Secured Party may require
Debtor to deliver to Secured Party all or any portion of the Collateral and any
and all certificates of title and other documents relating to the
Collateral. Secured Party may require
Debtor to assemble the Collateral and make it available to Secured Party at a
place to be designated by Secured Party.
Secured Party also shall have full power to enter upon the property of
Debtor to take possession of and remove the Collateral. If the Collateral contains other goods not
covered by this Agreement at the time of repossession. Debtor agrees Secured Party may take such
other goods, provided that Secured Party makes reasonable efforts to return
them to Debtor after repossession.
3.
SELL THE COLLATERAL. Secured Party shall have
full power to sell, lease, transfer, or otherwise deal with the Collateral or
proceeds thereof in its own name or that of Debtor. Secured Party may sell the Collateral at
public auction or private sale. Unless
the Collateral threatens to decline speedily in value or is of a type
customarily sold on a recognized market, Secured Party will give Debtor
reasonable notice of the time after which any private sale or any other
intended disposition of the Collateral is to be made. The requirements of reasonable notice shall
be met if such notice is given at least ten (10) days before the time of the
sale or disposition. All expenses
relating to the disposition of the Collateral, including without limitation the
expenses of retaking, holding, insuring, preparing for sale and selling the
Collateral, shall become a part of the Indebtedness secured by this Agreement
and shall be payable on demand, with interest at the Note rate unless payment
of interest at the rate would be contrary to applicable law, in which event
such expenses shall bear interest at the highest rate permitted by applicable
law from date of expenditure until repaid.
4.
APPOINT RECEIVER. To the extent permitted by
applicable law, Secured Party shall have the following rights and remedies
regarding the appointment of a receiver;
(a) Secured Party may have a receiver appointed as a matter of right,
(b) the receiver may be an employee of the Secured Party and may serve without
bond, and (c) all fees of the receiver and his or her attorney shall become
part of the Indebtedness secured by this Agreement and shall be payable on
demand, with interest at the Note rate unless payment of interest at that rate
would be contrary to applicable law, in which event such expenses shall not
bear interest at the highest rate permitted by applicable law from date of
expenditure until repaid.
5.
COLLECT REVENUES, APPLY
ACCOUNTS.
Secured Party, either itself or through a receiver, may collect the payments,
rents, income, and revenues from the Collateral. Secured Party may at any time in its
discretion transfer any Collateral into its own name or that of its nominee and
receive the payments, rents, income, and revenue therefrom and hold the same as
security for the Indebtedness or apply it to payment of the Indebtedness in
such order of preference as Secured Party may determine. Insofar as the Collateral consist of
accounts, general intangibles, insurance policies, instruments, chattel paper,
chooses in action, or similar property, Secured Party may demand, collect,
receipt for, settle, compromise, adjust, sue for, foreclose, or realize on the
Collateral as Secured Party may determine, whether or not Indebtedness or
Collateral is then due. For these
purposes, Secured Party may, on behalf of and in the name of Debtor, receive,
open and dispose of mail addressed to Debtor; change any address to which mail
and payments are to be sent; and endorse notes, checks, drafts, money orders,
documents of title, instruments and items pertaining to payment, shipment, or
storage of any Collateral. To facilitate
collection, Secured Party may notify account DEBTOR and obligors on any
Collateral to make payments to Secured Party.
6.
OBTAIN DEFICIENCY. If Secured Party chooses to
sell any of the Collateral, Secured Party may obtain a judgment against Debtor
for any deficiency remaining on the Indebtedness due to Secured Party after
application of all amounts received from the exercise of rights in this
Agreement. Debtor shall be liable for a
deficiency even if the transaction described in this subsection is a sale of
accounts or chattel paper.
7.
OTHER RIGHTS AND REMEDIES. Secured party shall have all
the rights and remedies of a secured creditor under the provisions of the
Uniform Commercial Code, as may be amended from time to time. In addition, Secured Party shall have and may
exercise any or all other rights and remedies it may have available at law, in
equity, or otherwise.
8.
CUMULATIVE REMEDIES. All of Secured Party’s
rights and remedies, whether evidenced by this Agreement or the Related
Documents or by any other writing, shall be cumulative and may be exercised
singularly or concurrently. Election by
Secured Party to pursue any remedy shall not exclude pursuit of any other
remedy, and an election to make expenditures or to take action to perform an
obligation of Debtor under this Agreement, after Debtor’s failure to perform,
shall not affect Secured Party’s right to declare a default and to exercise its
remedies.
Power of Attorney. Debtor hereby authorizes and
appoints Secured Party to act as Debtor’s agent and/or attorney-in-fact,
irrevocably, with full power of substitution to do the following: (a) indorse all documents, instruments, licenses,
permits, notes, checks, drafts, and money orders, of any type or nature; (b) to
demand, collect, receive, receipt for, sue, and recover all sums of money or
other property which may now or hereafter become due, owing, or payable to the
Debtor: (c) execute, sign, and indorse any and all claims, instruments,
receipts, checks, drafts, or warrants issued in payment for the Collateral; (d)
to settle or compromise any and all claims; and (e) to file any claim or claims
or to take any action or institute or take part in any proceedings, either in
his own name or in the name of the Debtor, or otherwise, which in the
discretion of Secured Party may seem to be necessary or advisable. In addition, the signature of Secured Party
on any instrument, license, permit, or any document now existing or hereafter
arising, upon which the name of the Debtor is, howsoever evidenced, is hereby
the authorized signature of Secured Party as agent representing Debtor. In addition, the Secured Party may, on behalf
of and in the name of the Debtor, receive, open, and dispose of mail addressed
to Debtor, and change any address to which mail and payments are to be
sent. This power is given as security
for the Indebtedness, and the authority hereby conferred is and shall be
irrevocable and shall remain in full force and effect until renounced by the
Secured Party in writing.
DEFINITIONS
and GLOSSARY OF TERMS
As used in this Security
Agreement, the following words and terms shall have meanings ascribed to them
in this section, non obstinate. From
Black’s Law Dictionary and Uniform Commercial Code.
“Accommodation Party” See Black’s Law Dictionary, 6th
ed. See
also UCC § 3-419
“Account(s)” See Black’s Law Dictionary 6th ed., Account. See
also UCC § 4-104, (1) (a) and UCC § 9-106.
“Agent” See Black’s Law Dictionary, 6th
ed.
“Agreement” See Black’s Law Dictionary, 6th
ed. See
also UCC § 1-201 (3)
“Artificial Person(s)” See Black’s
Law Dictionary, 7th ed. See also Dummy Corporation and Straw
Man. UCC § 1-201 (28)
“Bailee” See Black’s Law Dictionary, 6th
ed. See
also UCC § 7-102 (l) (a)
“Beneficiary” See Black’s Law Dictionary, 6th
ed. See
also UCC § 5-103 (1) (d) , also see (Secured Party)
“Buyer” See Black’s Law dictionary, 6th
ed. See
also UCC § 2-103 (1) (a)
“Charge back” See Black’s Law Dictionary, 6th
ed. See
also Surely and UCC § 4-212
“Chattel Paper”
See Black’s Law Dictionary, 6th
ed. UCC § 9-105 (b)
“Claim(s)
means: 1. right to payment, whether
or not such right is reduced to judgment, liquidated, unliquidated, fixed,
contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured
or unsecured. 2. To demand as one’s own,
challenge of property or ownership of a thing which is wrongfully
withheld. See Hill v. Henry, 66
N.J. Eq. 150, 57 Atl. 555. Also a claim
is to state. See Douglas v. Beasely, 40 Ala. 147, Prigg v.
Pennsylvania, 16 pct. 615, 101. Ed. 1060.
“Collateral” See Black’s Law Dictionary, 6ht ed. and UCC § 9-105 (l) (c)
“Contract” See Black’s Law Dictionary, 6th
ed. and UCC § 1-201 (ll)
“Contract Right” See UCC § 9-106
“Creditor”
means a person to whom a debt is owing by another person who is the
“debtor.” One who has a right to require
the fulfillment of an obligation or contract.
One to whom money is due, and, in ordinary acceptation, has reference to
financial or business transactions. The
antonym of “debtor.” See also Black’s Law Dictionary, 6th
ed. And UCC § 1-201 (12) (Secured
Party)
“Currency” See Black’s Law Dictionary, 7th ed.
“Derivatives” means
coming from another, taken from something preceding; secondary. That which has not its origin in itself, but
owes its existence to something foregoing.
Anything obtained or deduced from another. See
also Black’s Law Dictionary, 6th ed.
“Debt” See Black’s Law Dictionary, 6th
ed. See also Burke v. Boulder
Milling & Elevator Co. 77 Colo. 230, 235 P. 574, 575, and U.S. Sugar
Equalization Board v. P. De Ronde & Co. C.C.A Del, 7.2d 981, 984.
“Debtor” means
THE ORGANIZATION named herein and all derivatives thereof, See also Black’s Law Dictionary, 6th ed. and UCC § 9-105
(l) (d)
“Delegation of Performance” See UCC § 2-210
“Delivery” See Black’s Law Dictionary, 6th
ed. and UCC §1-201 (14)
“Documents of Title” See UCC Section 1-201 (15) and UCC Section 7-104, also § 9-105 (l). See
also Black’s Law Dictionary, 7th ed., Document of title.
“Dummy Corporation” means THE ORGANIZATION named herein and all derivatives thereof, an
artificial person or legal entity created by or under the authority of the laws
of a state or nation, composed, in some rare instances of a single person (such
as the Debtor). “The corporation is
distinct from the individual or individuals who comprise it.” Such entity subsists as a body politic under
a special denomination, which is regarded in law as having a personality and
distinct from that of its several members, See
Dartmouth College v. Woodward. (4
Wheat), 518 636, 657, 4 l Ed. 629; U.S. v. Trinidad Coal Co. 137 U.S.
160, ll S.CT. 57, 341, Ed. 640; Andrews Bros. Co. v. Youngstown Coke Co. 86
F.585, 30 C.C.A. 293, Porter v. Railroad Co., 76 Ill.573; Nebraska
Wheat Grower’s Ass’n v. Smith, 115 Neb. 177, 212 N.W. 39,44; State v.
Thistle Down Jockey Club, 114 Ohio St. 582,151 N.E. 709, 711; Congdon v.
Congdon, 160 Minn. 343, 200 N.W. 76, 87; Forest City Mfg. Co. v.
International Ladies’ Garment Workers’ Union, Local No. 101, 233 Mo. App
935, l l l S.W. 2d. 934; in re Crown Heights Hospital, 183 Misc. 563, 49
N.Y.S. 2d 658, 660; Froclich and Kuttner of Manila, P.I., v. Sutherland,
57 App. D.C. 294, 22 l 2d 870, 872. And also
“in rare instances where it lists a single person (such as the Debtor) this
would be considered a corporation sole, which consists of only that one person
only and his successors, in some particular station, who are incorporated by
law in order to give them some legal capacities and advantages, particularly
that of perpetuity, which in their natural persons they could not have.” (or in the present situation, to give them
some legal capacity or advantage of dealings in the government commercial
activities which in their natural persons they could have not have). See Step. Comm. 168, 169; First
Parish v. Dunning, 7 Mass. 447; Reid v. Barry, 93 Fla. 849, 112 So.
846, 859. The court cases also state
that a corporation may exist as Domestic and or Foreign, with reference to the
laws and the courts of any given state, a “domestic” corporation in one created
by, or organized under the laws of that state; a “foreign” corporation is one
created by or under the laws of another state, government, or country. (As in the present situation of a U.S.
corporation in Puerto Rico, see (BMF) Business Master File). In re Grand
Lodge, 110 Pa. 613, l A 582; Fowler v. Chilingworth, 94 Fla. l 113
So. 667 669, in re Ewles’ Estate, 105 Utah 507, 143 P.2d 903, 905. The also state that, “A Corporation de facto
is one existing under the color of law and in pursuance of an effort made in
‘good faith’ to organize a corporation under the statue; an association of men
claiming to be legally incorporated company, and exercising the powers and
functions of a corporation, but without actual lawful authority to do so.” See Foster v Hare 26 Tex. Civ. App
177, 62 S.W. 541; Cedar Rapids Water Co. v. Cedar Rapids, 118 Iowa, 234,
91 N.W. 1081; Tulare Irrig. Dist. V. Shepard, 185 U.S. 1, 22 S.Ct. 531,
46 L.Ed. 773; Evans v. Anderson, 132 Minn. 59 155 N.W. 1040, 1041. The fictitious named (Debtor), a straw man,
or dummy corporation created by the government without knowledge or intent of
the natural person (Secured Party), only exist under the color of law and
claiming only to be legally incorporated for the purpose of commerce, and
exercising the powers and functions of a corporation, without actual lawful
authority to do so, but strictly for the benefit of the government and its
commerce. The government shows the
capital letter spelling of the Debtor name when they created the “fictitious
named” corporation, due to the need of a specific name required for each
separate legal entity’s identification .
Therefore, when a corporation is constructed, a name is always given to
it, or supposing to be actually given, will attach to it be implication, and by
that name alone it must sue and be sued, and do all legal acts. Though a very
minute variation therein is not material, and the name is capable of being
changed (by competent authority) without affecting the identity or capacity of
the corporation. See Wharton on Corporations.
See also Black’s Law
Dictionary. 6th ed, Dummy.
“Duty of Care; Contractual Limitation” See UCC § 7-204
“General Intangibles” See Black’s Law Dictionary, 6th ed And UCC § 9-106
“Goods” See Black’s Law Dictionary, 6th
ed. And UCC §§ 2-105, 9-105 (h),
9-109
“Entrusting” See UCC § 2-403 (2), (3), and (4)
“Incapacity” See Black’s Law Dictionary, 6th and 7th ed. See also UCC § 3-305 (2) (b)
“Indemnities” See UCC § 5-113
“Indemnity” means
a collateral contract or assurance by which one person engages to secure
another against an anticipated loss or to prevent him from being damnified by
the legal consequences of an act or forbearance on the part of one of the
parties or of some third person. See Nat’l
Bank of Tifton v. Smith, 142 Ga 663, 83 S.E. 526, 528, I.R.A. 1915B, 116.
See also Black’s Law
Dictionary, 7th ed., Indemnity.
“Instrument(s)” See ‘Instrument,’ Black’s Law Dictionary, 6th ed. See also UCC § 3-102 (e) and 9-105 (l)
“Item(s)”
mean(s) part of a whole. See also UCC Section 4-104 (g)
“Juristic Person” Site UNITED STATES V. SCOPHONY CORP. 69 E.SUPP.666, “From earliest times the
law has enforced rights and exacted liabilities by utilizing a corporate
concept-by recognizing, that is, Juristic
Persons other than a Human . The
theories by which this mode of legal operation has developed, has been
justified, qualified, and defined are the subject-matter of a very sizable library. The historic roots of a particular society,
economic pressures, philosophic notions, all have had their share in the law’s
response to the ways of men in carrying on their affairs through what is now
the familiar device of the Corporation-------- Attribution of legal rights and
duties to a JURISTIC PERSON other that man is necessarily a metaphorical
process. And none the worse for it. No doubt, “Metaphors in law are to be narrowly
watched, Cardozo, J., in Berkey V. Third Avenue r. Co. 244 N.Y. 84, 94. But all instruments of thought should be
narrowly watched lest they be abused and fail in their service to reason.” Also
see DEBTOR, DUMMY CORPORATION, and ARTIFICIAL PERSON.
“Liability”
means every kind of legal obligation, responsibility, or duty. Also the state of being bound or obligated in
law or justice to do, pay or make good something. See Mayfield v. First nat’l Bank of
Chattanooga, Tenn, C.C.A. Tenn, 137 F.2d 1013, 1019; Feil v. City of
Coer d’ Alene, 23 Idaho 32, 129 P. 643, 649, 43 I.R.A. N.S. 1095; Breshaw
v. Rightmire, 196 N.Y.S. 539, 541, 119 Misc. 833. See
also Black’s Law Dictionary, 6th ed. Liability. “Money”
means the medium of exchange authorized or adopted by a government as part of
its currency. See also UCC § 1-201 (24)
“Natural Person(s)” means a human being, as distinguished from an artificial person created
by law. See Black’s Law Dictionary, 7th ed. Negotiable” means capable of being transferred by indorsement or
delivery so as to pass to holder the right to sue in his own name and take free
of equities against assignor payee. Fischbach
& Moore v. Philadelphia Nat. Bank, 134 Pa Super. 84, 3 A.2d 1011,
1012. See also Black’s Law Dictionary, 4th ed. See
also UCC §§ 7-501 and 7-502. “Non
Negotiable” means not negotiable; not capable of passing title or property
by indorsement or delivery. Any document
of title that is not a negotiable document.
An installment, which may not be transferred by indorsement and delivery or by delivery alone, though it may be
assigned. The transferee does not become
a holder unless it is negotiated.
Compare Negotiable. See Black’s Law Dictionary, 7th
ed. See
UCC §§ 7-501, 7-502
“Non obstante”
means a phrase used in documents to preclude any interpretation contrary to the
stated object or purpose. See Black’s Law Dictionary 6th
Ed.
“Notice” means
a warning or intimation of something. See also UCC §§ 1-201 (25) (a), (26),
and (27)
“On Demand” See Black’s Law Dictionary, 6th ed. and UCC § 3-108
“Organization” See Black’s Law Dictionary, 6th ed. And See UCC 1-201 (28)
“Party” means
a person concerned or having or taking part in any affair, matter, transaction,
or proceeding, considered individually. See also UCC Section 1-201 (29)
“Persons” See Black’s Law Dictionary, 7th Ed. See
also UCC 1-201 (30)
“Proceeds” See Black’s Law Dictionary, 6th ed. and UCC § 9-306 (l)
“Property” in
the strict legal sense, means an aggregate of rights which are guaranteed and
protected by the government, and in the ordinary sense, indicates the thing itself
rather that the rights attached to it.
See 62 Misc. Rep. 189, 116 N.Y. Supp 1000. “Real Man” means a real live flesh and blood man; refers to the
Secured Party name herein and all derivatives thereof. “There, every man is independent of all laws,
except those prescribed by nature. He is
not bound by any institutions formed by his fellowmen without his consent.”
CRUDEN V. NEALE, 2 N.C. 338 (1796) 2 S.E. 70.
“Registered form” See UCC § 8-102 (3) (a)
“Remedy for Breach of Collateral” See UCC § 2-701
“Remedy of Indemnity” See UCC § 5-115
“Representative” See Black’s Law Dictionary, 6th ed and UCC § 1-201 (35) (Debtor)
“Right to Reimbursement” See UCC § 5-114
“Rights Acquired to Indemnity” See UCC § 7-504 (4)
“Secondary Party” See Black’s Law Dictionary, 6th
ed., Secondary parties. See also UCC § 3-201
“Secured Party” refers
to the real man and natural named herein in all derivatives thereof; (also
considered Creditor.) See also Black’s
Law Dictionary 6th ed. and UCC § 9-105 (m)
“Securities” See Black’s Law Dictionary, 6th Ed. See
also UCC §§ 8-102 (l) (c) 8-105
“Security Interest” See Black’s Law Dictionary, 6th Ed. and UCC § 1-201 (37)
“Seller” See Black’s Law Dictionary, 6th
ed. and UCC § 201-3 (l) (d)
“Signature” See UCC § 3-401 (considered signed)
“Signed” See UCC §1-201 (39) (Considered
Signature)
“Straw man” means
THE ORGANIZATION named herein and all derivatives thereof. See Black’s
Law Dictionary, 6th ed. also DUMMY
CORPORATION. See also UCC § 1-201 (28). See Also DEBTOR.
“Surety” See Black’s
Law Dictionary, 6th ed. See
also UCC § 1-201 (40) (considered ‘charge back’)
“Transferable”
is a term used in a quasi legal sense, to indicate that the character of
assignability or negotiability attaches to the particular instrument, or that
it may pass from hand to hand, carrying all rights of the original holder. The words “not transferable” are sometimes
printed upon a ticket, receipt, or bill of lading, to show that the same will
not be good in the hands of any person other than the one to whom first
issued. See Black’s Law Dictionary, 6th ed. See
also UCC § 3-201 “Value” See Black’s Law Dictionary, 6th
ed. See also UCC §§ 1-201 (44), 3-303.
This
statement, upon presentation to the filing officer, is considered to be FILED FOR RECORD in accordance with State
of Maryland Annotated Uniform Commercial Code § 9-401 and § 9-403 (1).
_____________________________________ __________________________________________
DEBTOR SIGNATURE Secured Party / Executor / Administrator / Trustee
RONALD EDWARD VALENTINE JR. Ronald Edward Valentine Jr.
The Secured Party accepts
the DEBTOR'S and Principal's Signature in accord with UCC § 3-415 (5) and UCC §
3-419.
The herein Security
Agreement is NOT dischargeable in bankruptcy court and exempt from third party
levy is the property of the holder in due course.
ACKNOWLEDGEMENT
STATE OF } For verification purposes only
} ss.
COUNTY OF }
On ____________________________________
before me, ______________________________________________
DATE
Print: NOTARY
PUBLIC NAME
personally
appeared, the Sovereign Living Soul Ronald Edward Valentine Jr., personally known to me (or proved to me on the basis of
satisfactory evidence) to be the Sovereign Citizens, whose name is subscribed to
the instrument within and acknowledged to me that they executed the same in
their Sovereign authorized capacity, and that by their signatures on the instrument
the Sovereign Living Soul, or the entities upon behalf of which the Sovereign
Living Soul acted, executed the instrument. WITNESS
my hand and official seal.
____________________________________________
SEAL
Notary Public Signature
My
Commission Expires: _______________________
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