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Security Agreement if Purchase Piece of Equipment?

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Question: 
I have a business loan that is secured by real estate and equipment purchased. The business has purchased another piece of equipment. I know that we will file another UCC-1 for the new equipment; however, do I prepare a Security Agreement also?
Answer: 

You are asking a question that needs to be addressed by your legal counsel.

First published on 12/16/2013

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