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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Seeking brief consult with someone with experience enforcing a UCC security interest in personal property (industrial equipment).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">1. Client has a perfected security interest in “all of debtor’s equipment.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Client’s security interest is subordinate to previously filed UCC financing statement.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">2. Prior UCC financing statement lists the collateral as “<u>all equipment</u>
<u>leased by the debtor from the secured party</u>.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">It is unclear which specific pieces of equipment are leased from the first secured party (and subject to the superior security interest) and which are owned outright by
the debtor (and subject to client’s security interest).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Client would like to secure the equipment, but we fear client may subject itself to liability if client takes equipment that is subject to the prior security agreement.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">If anyone can offer any insight, I would greatly appreciate.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Thanks,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif;color:#2F5496"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif;color:#2F5496">J<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif;color:#2F5496"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;font-family:"Freestyle Script";color:#1F4E79">Jay A. Goldstein<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:10.5pt;font-family:"Century Gothic",sans-serif;color:#E36C0A"><img width="302" height="78" style="width:3.15in;height:.8083in" id="Picture_x0020_1" src="cid:image001.jpg@01D2BE9A.AA1D8CB0" alt="Logo Color 946x243 pixels"></span></b><span style="font-size:14.0pt;font-family:"Times New Roman",serif;color:#2E74B5"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#404040">1800 Cooper Point RD SW NO. 8</span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#5D6F21"> </span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#4C4C4C"> </span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#5C6D2C">|</span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#5D6F21"> </span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#4C4C4C"> Olympia,
WA 98502</span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#5D6F21">
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#4C4C4C">Telephone 360.352.1970 </span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#1F497D"> </span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#5C6D2C">| </span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#4C4C4C"> Fax
360.357.0844 </span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#5C6D2C">|</span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#5D6F21"> </span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#4C4C4C"> <a href="http://www.jaglaw.net/"><span style="color:blue">www.jaglaw.net</span></a>
</span><span style="font-family:"Arial",sans-serif;color:#1F497D"> <o:p></o:p></span></p>
<p class="MsoNormal"><u><span style="font-family:"Arial",sans-serif;color:#17365D"><a href="mailto:jay@jaglaw.net"><span style="color:blue">jay@jaglaw.net</span></a><o:p></o:p></span></u></p>
<p class="MsoNormal"><b><span style="font-family:"Times New Roman",serif;color:#17365D"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#000099">Nothing contained herein should be construed as legal advice.</span><span style="font-size:10.0pt;color:#000099"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#000099">The purpose of this email is to transmit a message or document.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#000099">Should you not be the intended recipient of this email message,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#000099">please reply advising of the mistake and then delete this message
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#000099">from your computer. Should you have any questions,
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#000099">please call the Sender at 360-352-1970.<o:p></o:p></span></p>
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