SECURITY AGREEMENT General Electric Capital Corporation Fed. I.D. 13-1500700 P.O. Box 35707 Billings, MT 59107 Secured Party: (Lienholder) Gelco Corporation Fed. I.D. 36-2774566 3 Capital Drive Eden Prairie, MN 55344 Debtor: Description of Collateral Security: Year Make Vehicle Identification Number Lien amount: $ Lien date: The security interest noted hereby secures the indebtedness of the Debtor incurred in connection with the purchase of the Vehicle and all other loans, debts, advances, obligations and liabilities now or hereafter owed by the Debtor to the Secured Party for money borrowed to purchase Vehicles. This Security Agreement is in addition to and should be read as a part of the Basic Security Agreement between the Secured Party and the Debtor. Upon occurrence of an event of default as defined in the Basic Security Agreement, Secured Party shall have all rights and remedies set forth therein. This Security Agreement is governed by the laws of the State of Minnesota. IN WITNESS WHEREOF, the parties have hereunto executed this Agreement by duly authorized persons. GELCO CORPORATION General Electric Capital Corporation By By Bob Mitchell Authorized Signatory Pam Passman Authorized Signatory Certified a True Signature Certified a True Signature Notary Public Notary Public Print Form Submit 1-1165 (01-10)
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