General forms_ lender[1]

General forms. The undersigned, hereinafter referred to as "trustee," hereby acknowledges receipt of the property described below, delivered to the undersigned under credit extended by _________, hereinafter referred to as "lender," said lender retaining title thereto or a security interest therein. In consideration of such credit, trustee agrees to hold said property in trust for lender as the latter's property, and to return any or all of said property on demand. Lender may at any time examine said property and the books and records of trustee with reference thereto. Lender may at any time cancel this agreement and may take possession of said property without notice or demand, and for such purpose it or its representatives may enter any premises of the trustee at any time without legal process. Trustee shall not lend, rent, mortgage, pledge, or otherwise use or encumber said property, and shall keep the same free of all liens and encumbrances, excepting the security interest created by this instrument. Trustee shall be responsible for the proper care and maintenance of said property and shall maintain insurance on the property against fire, theft, or other casualty. Lender may, at its option, obtain such insurance and charge the expense to trustee. During the term of this agreement, trustee may offer and sell said property to its customers, for a price not less than the "release price" stipulated herein. Immediately after any such sale trustee shall deliver the proceeds thereof, if such sale is for cash, to lender, and until such delivery, shall hold said proceeds in trust for lender. If such sale is other than for cash, trustee must deliver to lender the release price in cash for the subject property before delivery of said property to the purchaser. Trustee has executed and delivered to lender a promissory note, attached hereto, in sum equal to the total of the release prices listed herein, as evidence of the credit advanced to trustee in connection with this agreement, and trustee hereby authorizes lender to detach said note. Trustee shall pay all costs and expenses, including reasonable attorney's fees, that lender may incur to protect or enforce its rights under this agreement. Article Model Serial No. Cost Release Price Date Released ............................... ............................... ............................... ............................... .............................. ............................... ............................... ............................... ............................... ............................... .............................. ............................... ............................... ............................... ............................... ............................... .............................. ............................... [Signatures]