Option One: A Legalese Infused UCC Financing Statement
In the event of default, the loan is secured by the following collateral:
All personal property of the Debtor, including all of the following: All inventory, equipment, accounts (including but not limited to all health-care-insurance receivables), chattel paper, instruments (including but not limited to all promissory notes), letter-of-credit rights, documents, deposit accounts, investment property, money, other rights to payment and performance, and general intangibles (including but not limited to all software and all payment intangibles; all rights to merchandise and other goods (including rights to returned and repossessed goods and rights of stoppage in transit) which is represented by, arises from or relates to any of the foregoing, all personal property of the Grantor held by the Lender at any time hereafter transferred or delivered to or coming into the possession, custody or control of the Lender; all attachments, accessions, accessories, fittings, increases, tools, parts, repairs, supplies, and commingled goods relating to the foregoing property, and all additions, replacements of and substitutions for all or any part of the foregoing property; all insurance refunds relating to the foregoing property; all good will relating to the foregoing property; all records and data and embedded software relating to the foregoing property, and all equipment, inventory and software to utilize, create, maintain and process any such records and data on electronic media; and all supporting obligations relating to the foregoing property; all whether now existing or hereafter arising, whether now owned or hereafter acquired or whether now or hereafter subject to any rights in the foregoing property; and all products and proceeds (including but not limited to all insurance payments) of or relating to the foregoing property. All terms which are used in this agreement which are defined in the Uniform Commercial Code of the State of Illinois as in effect from time to time (“UCC”) shall have the same meanings herein as such terms are defined in the UCC, unless this agreement shall otherwise specifically provide.
Option Two: A Namby-Pamby Infused UCC Financing Statement
In the event of default, we take all yo’ shit.