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Indiana ("Bank"), a security interest in the following
property * * * :
* * * * * * *
(b) All of Debtor's rights in, to, and
under a certain Commercial Loan
Note executed by Miller Medical
Systems, Inc. on or about December
30, 1992 [i.e., the MMS/Miller
promissory note];
* * * * * * *
The security interest hereby granted is to secure
the prompt and full payment and complete performance of
all Obligations of Debtor to Bank.
The foregoing security interest in MMS's promissory note was also
described in the loan agreement for the Miller/Huntington Loan as
follows:
As security for the Loan, * * * [petitioner] shall
make a collateral assignment of all * * *
[petitioner's] rights and interests arising under or in
connection with the * * * [MMS/Miller Loan], including
but not limited to, * * * a pledge of any and all
promissory notes executed by * * * [MMS] in favor of *
* * [petitioner] * * * .
Huntington filed a Uniform Commercial Code financing statement on
December 31, 1992, to perfect a security interest in the property
petitioner had collaterally assigned to it pursuant to the
Miller/Huntington Loan, including the "Commercial Loan Note
executed by Miller Medical Systems, Inc. on or about December 30,
1992".
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Last modified: May 25, 2011