1
EXHIBIT 10.36
SECURITY AGREEMENT
THIS SECURITY AGREEMENT (the "Agreement") is executed this 30 day of
December, 1994, by BANKERS DATA CENTER, INC., a Florida corporation (the
"Borrower"), in favor of FIRST OF AMERICA BANK-FLORIDA F.S.B., a federal
savings bank (the "Lender"), and is made in reference to the following facts:
(A) On or about the date hereof, the Lender has agreed to make a loan to
the Borrower in the original principal amount of TWO HUNDRED THOUSAND AND
NO/100 DOLLARS ($200,000.00) (the "Loan"). The Loan is evidence by that certain
Note executed by the Borrower in favor of the Lender (the "Note").
(B) As a condition to making the Loan, the Lender has required Borrower
to grant Lender a first security interest and lien in certain tangible and
intangible personal property of Borrower, as more particularly described in
Exhibit "A" attached hereto and by this reference made a part hereof, together
with all increases, accessions, replacements, upgrades, parts, fittings,
accessories and equipment now or hereafter affixed to any or any part
thereafter affixed to any or any part thereof, or used in connection therewith,
and all replacements of all or any part thereof (collectively the
"Collateral"). The Collateral will at all times be located at 360 central
Avenue, St. Petersburg, Florida.
NOW THEREFORE, for and in consideration of the premises and other good and
valuable consideration, the Borrower does hereby covenant, agree, warrant and
represent with and to the Lender as follows:
1. Recitals. The statements contained in the recitals of fact set forth
above (the "Recitals") are true and correct and the Recitals by this reference
are made a part of this Agreement.
2. security Interest. Borrower does hereby grant to Lender a first
security interest and lien in the Collateral as security to secure the payment
of principal, interest and other sums due or to become due under the Note, and
any and all extensions, modifications or renewals of the Note, and all present
and future indebtedness, obligations, and liabilities contained in or referred
to or which may hereafter arise in connection with or as contemplated by the
Note and any instruments of security therefor, and any and all modifications or
extensions of the Note, and the instruments of security therefor, and all
obligations and liabilities of Borrower hereunder, all of which are hereinafter
referred to as the "Obligations."
3. Use and Location of Collateral. The collateral was and shall be
acquired and is and shall be used primarily for business use.
4. Payment. The Borrower shall pay and perform, all and singular, the
Obligations, including but not limited to the payment of sums of principal and
interest and other
2
sums payable by virtue of the Note promptly when due, and shall perform all of
Borrower's agreements in the Note and herein and pay all taxes and assessments
levied or assessed against the Collateral, against this Agreement and against
the Obligations, secured hereby, whether such taxes and assessments be against
the Collateral, the Obligations, the Borrower, the Lender, or another. All
such taxes and assessments shall be paid by Borrower before they become
delinquent, and before the date they would have become delinquent or within ten
(10) days after payment of same, whichever shall be sooner, Borrower shall
deliver to Lender official receipts, or copies thereof, showing payment.
5. Insurance. To keep the tangible personal property portion of the
Collateral continuously insured against loss by fire, theft, tornado, windstorm,
flood and such other hazards, as may from time to time be required by Lender,
in companies and in amounts in each company as may be approved by and
acceptable to Lender; all such insurance policies shall be in form acceptable
to Lender with loss payable to Lender as its interest may appear, and each and
every such policy or certified copies thereof shall be promptly delivered to
and held by Lender. Not less than thirty (30) days in advance of the
expiration of each such policy Borrower shall deliver to Lender a renewal or
certified copy thereof, together with the receipt, or copy thereof, for the
premium for such renewal. In the event of loss the insurance claim proceeds, or
any part thereof, shall be applied by Lender in the manner it deems proper,
whether for reduction of the Loan indebtedness, restoration of the Collateral
or otherwise.
6. Protection of Lender's Security. Borrower is and will be the owner
of the Collateral free and clear from any lien, security interest or
encumbrance, except for the lien and the obligations of this Agreement. No
financing statement covering any of the collateral is on file in any public
office. Borrower will from time to time at the request of Lender execute one
or more financing statements and such other documents (and pay the costs of
filing or recording the same in all public offices deemed necessary or
desirable by Lender) and do such other acts and things, all as Lender may
request to establish and maintain a valid perfected first security interest in
the Collateral to secure the payment and performance of the Obligations.
7. Replacement of Collateral. To keep the tangible personal property
portion of the Collateral, all and singular, on the property where presently
located and not to remove or permit same to be removed therefrom without the
prior written consent of the Lender except that Borrower shall be entitled to
dispose of such of the Collateral as has become unfit for continued use
provided Borrower simultaneously replaces same with property of similar kind
and for like use and provided the purchase price of any such replacement shall
have been paid in full and provided that the lien of this Agreement shall
continue upon any such replacement. To use reasonable care and diligence to
preserve and keep the Collateral in good condition and not to permit or commit
any waste, impairment or deterioration thereof and to use same only for the
purpose for which same is now agreed upon to be used in connection with said
improvements.
8. Sale or Encumbrance. Except as set forth in paragraph 7 above, not
to sell or attempt to sell any of the Collateral and not to create or permit
any other security interest or other lien or encumbrance upon such Collateral
without the prior written consent of the Lender.
2
3
9. Costs and Attorneys' Fees. To pay, all and singular, the
expenditures, costs, charges and expenses, including reasonable attorneys' fees
and costs of title searches and information requests, incurred or paid at any
time by the Lender because of the failure on the part of the Borrower promptly
and fully to perform and pay the Obligations, and all such costs, charges and
expenses shall be immediately due and payable and shall bear interest at the
highest legal rate permitted by law to be charged by Lender from time to time,
from date of payment by Lender until repaid by Borrower and, together with such
interest, shall be secured by the lien of this Agreement.
10. Default. Borrower shall be in default under this Agreement upon the
happening of any of the following events or conditions: (a) failure or omission
to perform or pay when due any of the Obligations (including any installment
thereof or interest thereon); (b) any warranty, representation or statement made
or furnished to Lender by or on behalf of Borrower proves to have been false in
any material respect when made or furnished; (c) Borrower makes an assignment
for the benefit of creditors; (d) a Receiver is appointed for Borrower or any
part of the Collateral; (e) Borrower files a Petition in Bankruptcy, is
adjudicated a bankrupt, or files any petition or institutes any proceedings
under the Bankruptcy Code with respect to Borrower's assets and liabilities; (f)
Borrower defaults in, breaches or fails to perform any one or more of the
covenants and agreements contained in the Obligations, including without
limitation, this Agreement, the Note or any of the instruments of security
therefor executed by Borrower in connection with the loan secured hereby on even
date herewith or hereafter.
11. Acceleration. Upon the occurrence of any monetary default which
remains uncured for thirty (30) days or more, or should a nonmonetary default
remain uncured for thirty (30) days or more following receipt of written notice
to Borrower from Lender specifying with particularity such event of nonmonetary
default (or, if such nonmonetary default cannot be reasonably cured within the
thirty (30) day period, if the Borrower does not commence to cure such
nonmonetary default within the thirty (30) day period or thereafter fails to
diligently and continuously proceed to cure such nonmonetary default), Lender
may, at its option, declare all Obligations, or any of them (notwithstanding any
provision thereof), immediately due and payable without demand or notice of any
kind and the same thereupon shall immediately become and be due and payable
without demand or notice, and Lender shall have and may exercise from time to
time any and all rights and remedies of a Lender under the Uniform Commercial
Code of the State of Florida and any and all other rights and remedies available
to it under any other applicable law, including the right to foreclose this
Agreement and the other instruments of security in the same proceedings. A
monetary default shall be deemed to include failure to make payments of
principal, interest and late charges under the Note as well as payments of taxes
and governmental assessments and premiums for insurance under any instruments of
security for the Note and this Agreement. Notwithstanding anything contained in
the preceding sentences of this paragraph 11 to the contrary, there shall be no
requirement of a curative period as set forth above in the event of a default
described in subparagraphs (c), (d) or (e) of paragraph 10 hereof. Upon request
or demand of Lender, Borrower shall, at Borrower's expense, assemble the
Collateral and make it available to the Lender and Borrower shall promptly pay
all costs of Lender of collection of any and all of the Obligations and
enforcements of rights hereunder, including reasonable
3
4
attorneys' fees and legal expenses and expenses of any repairs to any of the
Collateral and expenses of any repairs to any realty or other property to which
any of the Collateral may be affixed or be a part. Expenses of retaking,
holding, preparing for sale, selling or the like, shall include those incurred
on appeal, if any.
12. Waiver. No waiver by Lender of any default shall operate as a
waiver of any other default or of the same default on a future occasion. No
delay or omission on the part of Lender in exercising any right or remedy shall
operate as a waiver thereof or the exercise of any other right or remedy.
13. Provisions Cumulative. The provisions of this Agreement are
cumulative and in addition to the provisions of the Note secured by this
Agreement and the provisions of the instruments securing the Note and Lender
shall have all the benefits, rights and remedies of and under the Note and any
other instrument securing same. All rights of Lender hereunder shall inure to
the benefit of its successors and assigns and all obligations of Borrower
hereunder shall bind the successors and assigns of Borrower.
14. Florida Contract. This Agreement has been delivered in the State of
Florida and shall be construed in accordance with the laws of Florida and the
venue for any litigation as a result of this Agreement shall be Hillsborough
County, Florida.
15. Severability. Wherever possible, each provision of this Agreement
shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this agreement shall be prohibited by or
invalid under applicable law, such provision shall be ineffective to the extent
of such prohibition or invalidity only, without invalidating the remainder of
such provision or of the remaining provisions of this agreement.
16. Assignment by Lender. In the event of any assignment hereof by
Lender, Borrower covenants and agrees that Borrower will not assert against any
assignee hereof any claim or defense which Borrower may have against Lender,
except Borrower may assert against any such assignee any defense of a type which
may be asserted against a holder in due course of a negotiable instrument under
the Uniform Commercial Code of the State of Florida.
17. Headings. The headings of the paragraphs contained in this
Agreement are for convenience of reference only and do not form a part hereof
and in no way modify, interpret or construe the meaning of the parties hereto.
4
5
EXHIBIT 10.36
IN WITNESS WHEREOF, Borrower has executed this instrument under seal the
day and year first above written.
Signed, sealed and delivered BANKERS DATA CENTER, INC.,
in the presence of: a Florida corporation
/s/ A. M. Dahlquist By: /s/ Edwin C. Hussemann
- --------------------------- ---------------------------
SIGNATURE SIGNATURE
A. M. DAHLQUIST EDWIN C. HUSSEMANN
- --------------------------- ---------------------------
NAME LEGIBLY PRINTED NAME LEGIBLY PRINTED
TYPEWRITTEN OR STAMPED TYPEWRITTEN OR STAMPED
/s/ Nancy C. Haire Its Treasurer
- ---------------------------
SIGNATURE
NANCY C. HAIRE
- ---------------------------
NAME LEGIBLY PRINTED
TYPEWRITTEN OR STAMPED (CORPORATE SEAL)
As to Borrower
STATE OF FLORIDA )
COUNTY OF PINELLAS )
The foregoing instrument was acknowledged before me this 27 day of
December, 1994, by EDWIN C. HUSSEMANN, the Treasurer of BANKERS DATA CENTER,
INC., a Florida corporation, on behalf of the corporation.
Personally Known X OR Produced Identification
--------
Type of Identification Provided
------------------------------
/s/ Nancy C. Haire
-------------------------
SIGNATURE
NANCY C. HAIRE
-------------------------
NAME LEGIBLY PRINTED,
TYPEWRITTEN OR STAMPED
(SEAL) (NOTARY PUBLIC)
My Commission Expires:
5
6
BANKERS DATA CENTER
NET BOOK VALUE REPORT
Co Asset In-Svc Dep Rem Unadjusted Salvage Thru Current Accum Sec Net Bk Pct
SYS No No Desc Date Meth Life Basis + S179 Value Date Depreciation 179 Value Dep
- ------------------------------------------------------------------------------------------------------------------------------------
BOOK:INTERNAL FY:DECEMBER
000227 TBA STEEL CASE 01/01/94 SLMM 06 01 14957.00 0.00 11/94 1958.66 0.00 12998.34 13.1
000228 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000229 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000230 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000231 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000232 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000233 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000234 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000235 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000236 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000237 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000238 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000239 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000240 TBA S/C CHAIR 03/01/94 SLMM 04 03 219.57 0.00 11/94 32.94 0.00 186.63 15.0
000241 TBA S/C CHAIR 04/01/94 SLMM 04 04 219.57 0.00 11/94 29.28 0.00 190.29 13.3
000299 138-0885 S/C CHAIR 07/01/94 SLMM 04 07 232.64 0.00 11/94 19.39 0.00 213.25 8.3
000300 138-0886 S/C CHAIR 07/01/94 SLMM 04 07 232.64 0.00 11/94 19.39 0.00 213.25 8.3
000301 138-0887 S/C CHAIR 07/01/94 SLMM 04 07 232.64 0.00 11/94 19.39 0.00 213.25 8.3
000302 138-0888 S/C CHAIR 07/01/94 SLMM 04 07 232.64 0.00 11/94 19.39 0.00 213.25 8.3
000303 138-0889 S/C CHAIR 07/01/94 SLMM 04 07 232.64 0.00 11/94 19.39 0.00 213.25 8.3
000304 138-0890 S/C CHAIR 07/01/94 SLMM 04 07 232.64 0.00 11/94 19.39 0.00 213.23 8.3
000305 138-0891 S/C CHAIR 07/01/94 SLMM 04 07 232.64 0.00 11/94 19.39 0.00 213.25 8.3
000306 138-0862 S/C CHAIR 07/01/94 SLMM 04 07 232.64 0.00 11/94 19.39 0.00 213.25 8.3
-------- ---- ------- ---- --------
Class FF Count= 23 19892.10 0.00 2571.28 0.00 17320.82
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- ------- ---- --------
Net 19892.10 0.00 2571.28 0.00 17320.82
-------- ---- ------- ---- --------
000246 500-0269 DELL 466/L 01/01/94 SLMM 04 01 3446.69 0.00 11/94 631.90 0.00 2814.79 18.3
000247 500-0270 DELL 466/L 01/01/94 SLMM 04 01 3446.69 0.00 11/94 631.90 0.00 2814.79 18.3
000248 501-0301 ULTRASCAN 01/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000249 501-0302 ULTRASCAN 01/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000250 502-0368 QUIET KEY 01/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000251 502-0369 QUIET KEY 01/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000252 622-0229 HP DIRECT 03/01/94 SLMM 04 03 619.82 0.00 11/94 92.97 0.00 526.85 15.0
000253 500-0282 COMPAQ PRO 03/01/94 SLMM 04 03 1501.26 0.00 11/94 225.19 0.00 1276.07 15.0
000254 501-0314 MAGNAVOX 1 03/01/94 SLMM 04 03 374.50 0.00 11/94 56.17 0.00 318.33 15.0
000255 502-0381 4 MB UPGRA 03/01/94 SLMM 04 03 205.14 0.00 11/94 30.77 0.00 174.37 15.0
000256 TBA COMPAQ 4/3 03/01/94 SLMM 04 03 1508.78 0.00 11/94 226.33 0.00 1282.45 15.0
000257 TBA 4MB UPGRAD 03/01/94 SLMM 04 03 210.30 0.00 11/94 31.56 0.00 178.74 15.0
000258 TBA SVGA COLOR 03/01/94 SLMM 04 03 374.50 0.00 11/94 56.17 0.00 318.33 15.0
000259 611-0042 SEAGATE 1. 04/01/94 SLMM 04 04 1069.65 0.00 11/94 142.63 0.00 927.02 13.3
EXHIBIT "A"
7
BANKERS DATA CENTER
NET BOOK VALUE REPORT
Co Asset In-Svc Dep Rem Unadjusted Salvage Thru Current Accum Sec Net Bk Pct
SYS No No Desc Date Meth Life Basis + S179 Value Date Depreciation 179 Value Dep
- ------------------------------------------------------------------------------------------------------------------------------------
000260 612-0014 ADAPTEC 15 04/01/94 SLMM 04 04 309.95 0.00 11/94 41.34 0.00 268.61 13.3
000261 500-0303 COMPAQ PRO 04/01/94 SLMM 04 04 2088.86 0.00 11/94 278.53 0.00 1810.33 13.3
000262 500-0304 COMPAQ PRO 04/01/94 SLMM 04 04 2088.86 0.00 11/94 278.53 0.00 1810.33 13.3
000263 501-0327 TRUE POINT 04/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000264 501-0328 TRUE POINT 04/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000265 502-0400 COMPAQ 4 M 04/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000266 502-0401 COMPAQ 4 M 04/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000267 510-0101 HP LASERJE 04/01/94 SLMM 04 04 1492.52 0.00 11/94 199.01 0.00 1293.51 13.3
000268 622-0270 HP JET DIR 04/01/94 SLMM 04 04 616.19 0.00 11/94 82.16 0.00 534.03 13.3
000269 612-0015 ADAPTER 15 04/01/94 SLMM 04 04 204.37 0.00 11/94 27.26 0.00 177.11 13.3
000270 500-0250 COMPAQ CON 04/01/94 SLMM 04 04 3406.13 0.00 11/94 454.15 0.00 2951.98 13.3
000271 TBA 4MB UPGRAD 04/01/94 SLMM 04 04 289.22 0.00 11/94 38.56 0.00 250.66 13.3
000275 500-0320 PROLINEA C 05/01/94 SLMM 04 05 2498.89 0.00 11/94 291.54 0.00 2207.35 11.7
000276 500-0321 PROLINEA C 05/01/94 SLMM 04 05 2498.89 0.00 11/94 291.54 0.00 2207.35 11.7
000277 500-0322 PROLINEA C 05/01/94 SLMM 04 05 2498.89 0.00 11/94 291.54 0.00 2207.35 11.7
000278 500-0323 PROLINEA C 05/01/94 SLMM 04 05 2498.89 0.00 11/94 291.54 0.00 2207.35 11.7
000279 501-0345 MONITOR (I 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000280 501-0346 MONITOR (I 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000281 501-0347 MONITOR (I 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000282 501-0348 MONITOR (I 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000283 502-0419 KEYBOARD ( 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000284 502-0420 KEYBOARD ( 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000285 502-0421 KEYBOARD ( 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000286 502-0422 KEYBOARD ( 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000287 500-0308 PROLINEA M 05/01/94 SLMM 04 05 3144.45 0.00 11/94 366.86 0.00 2777.59 11.7
000288 500-0309 PROLINEA M 05/01/94 SLMM 04 05 3144.45 0.00 11/94 366.86 0.00 2777.59 11.7
000289 500-0310 PROLINEA M 05/01/94 SLMM 04 05 3144.45 0.00 11/94 366.86 0.00 2777.59 11.7
000290 501-0334 MONITOR (I 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000291 501-0335 MONITOR (I 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000292 501-0336 MONITOR (I 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000293 502-0405 KEYBOARD ( 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000294 502-0406 KEYBOARD ( 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000295 502-0407 KEYBOARD ( 05/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000296 500-0302 PROLINEA C 06/01/94 SLMM 04 06 1710.13 0.00 11/94 171.01 0.00 1539.12 10.0
000297 502-0399 KEYBOARD ( 06/01/94 SLMM 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000298 501-0330 MAGNAVOX 1 07/01/94 SLMM 04 07 374.50 0.00 11/94 31.21 0.00 343.29 8.3
000309 622-0277 JETDIRECT 07/01/94 SLMM 04 07 522.55 0.00 11/94 43.55 0.00 479.00 8.3
000310 HEWLETT PA 07/01/94 SLMM 04 07 1739.49 0.00 11/94 144.96 0.00 1594.53 8.3
000311 520-0490 AS400 TERM 07/01/94 NoDep 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000312 500-0327 IDEA 277v 07/01/94 SLMM 04 07 1021.95 0.00 11/94 85.16 0.00 936.79 8.3
000313 501-0353 MONITOR (I 07/01/94 NoDep 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000314 502-0425 122 KEY KE 07/01/94 NoDep 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000315 500-0335 PROLINEA 4 08/01/94 SLMM 04 08 2065.72 0.00 11/94 137.72 0.00 1928.00 6.7
000316 500-0336 PROLINEA 4 08/01/94 SLMM 04 08 2065.72 0.00 11/94 137.72 0.00 1928.00 6.7
000317 500-0337 PROLINEA 4 08/01/94 SLMM 04 08 2065.72 0.00 11/94 137.72 0.00 1928.00 6.7
8
BANKERS DATA CENTER
NET BOOK VALUE REPORT
Co Asset In-Svc Dep Rem Unadjusted Salvage Thru Current Accum Sec Net Bk Pct
SYS No No Desc Date Meth Life Basis + S179 Value Date Depreciation 179 Value Dep
- ------------------------------------------------------------------------------------------------------------------------------------
000328 500-0341 COMPAQ PRO 08/01/94 SLMM 04 08 2270.12 0.00 11/94 151.35 0.00 2118.77 6.7
000329 501-0360 MONITOR (I 08/01/94 NoDep 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000330 601-0096 MODEM (INC 08/01/94 NoDep 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000331 601-0094 DATA RACE 09/01/94 MT200 05 01 529.00 0.00 11/94 96.99 0.00 432.01 18.3
000332 602-0064 KINGSTON 4 09/01/94 NoDep 00 00 0.00 0.00 11/94 0.00 0.00 0.00 0.0
000336 500-0380 COMPAQ PRO 11/01/94 SLMM 04 00 2014.10 0.00 0.00 0.00 2014.10 0.0
000337 500-0381 COMPAQ PRO 11/01/94 SLMM 04 00 2014.10 0.00 0.00 0.00 2014.10 0.0
000338 501-0390 MONITOR (S 11/01/94 NoDep 00 00 0.00 0.00 0.00 0.00 0.00 0.0
000339 501-0391 MONITOR (S 11/01/94 NoDep 00 00 0.00 0.00 0.00 0.00 0.00 0.0
000340 500-0408 DELL NOTEB 12/01/94 SLMM 04 00 4293.97 0.00 0.00 0.00 4293.97 0.0
000341 500-0409 DELL NOTEB 12/01/94 SLMM 04 00 4293.97 0.00 0.00 0.00 4293.97 0.0
000342 500-0410 DELL NOTEB 12/01/94 SLMM 04 00 4293.97 0.00 0.00 0.00 4293.97 0.0
000343 601-0113 AT&T DATA 12/01/94 SLMM 04 00 212.93 0.00 0.00 0.00 212.93 0.0
000344 601-0114 AT&T DATA 12/01/94 SLMM 04 00 212.93 0.00 0.00 0.00 212.93 0.0
000345 601-0115 AT&T DATA 12/01/94 SLMM 04 00 212.93 0.00 0.00 0.00 212.93 0.0
000346 601-0116 AT&T DATA 12/01/94 SLMM 04 00 212.93 0.00 0.00 0.00 212.93 0.0
000347 601-0117 AT&T DATA 12/01/94 SLMM 04 00 212.93 0.00 0.00 0.00 212.93 0.0
000348 601-0118 AT&T DATA 12/01/94 SLMM 04 00 212.93 0.00 0.00 0.00 212.93 0.0
000349 601-0119 AT&T DATA 12/01/94 SLMM 04 00 212.93 0.00 0.00 0.00 212.93 0.0
000350 601-0120 AT&T DATA 12/01/94 SLMM 04 00 212.93 0.00 0.00 0.00 212.93 0.0
-------- ---- ------ ---- --------
Class HW Count= 79 75660.79 0.00 6929.26 0.00 68731.53
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- ------- ---- --------
Net 75660.79 0.00 6929.26 0.00 68731.53
-------- ---- ------- ---- --------
000242 550-0294 NORTON DES 03/01/94 SLMM 04 03 124.78 0.00 11/94 18.72 0.00 106.06 15.0
000243 550-0295 MS OFFICE 04/01/94 SLMM 04 04 499.29 0.00 11/94 66.57 0.00 432.72 13.3
000244 TBA POWER BUIL 04/01/94 SLMM 04 04 3357.95 0.00 11/94 447.74 0.00 2910.21 13.3
000245 TBA PPOWER BUI 04/01/94 SLMM 04 04 3357.95 0.00 11/94 447.74 0.00 2910.21 13.3
000272 CLARION DA 05/01/94 SLMM 04 05 609.20 0.00 11/94 71.07 0.00 538.13 11.7
000273 POWERBUILD 05/01/94 SLMM 04 05 615.54 0.00 11/94 71.82 0.00 543.72 11.7
000274 POWERBUILD 05/01/94 SLMM 04 05 615.54 0.00 11/94 71.82 0.00 543.72 11.7
000307 XTRT V1.5 07/01/94 SLMM 04 07 702.50 0.00 11/94 58.55 0.00 643.95 8.3
000308 POWERSOFT 07/01/94 SLMM 04 07 4281.00 0.00 11/94 356.75 0.00 3924.25 8.3
000333 EIS SOFTWA 09/01/94 MT200 05 01 856.00 0.00 11/94 156.94 0.00 699.06 18.3
000334 SEE NOTES MS OFFICE 11.01/94 SLMM 03 11 8877.79 0.00 11/94 184.95 0.00 8692.84 2.1
000351 STONE EAGLE 07/01/94 NoDep 00 00 100000.00 0.00 0.00 0.00 100000.00 0.0
SOFTWARE
--------- ---- ------- ---- ---------
Class SW Count= 12 123897.54 0.00 1952.67 0.00 121944.87
Less disposals 0.00 0.00 0.00 0.00 0.00
--------- ---- ------- ---- ---------
Net 123897.54 0.00 1952.67 0.00 121944.87
--------- ---- ------- ---- ---------
9
BANKERS DATA CENTER
NET BOOK VALUE REPORT
Co Asset In-Svc Dep Rem Unadjusted Salvage Thru Current Accum Sec Net Bk Pct
SYS No No Desc Date Meth Life Basis + S179 Value Date Depreciation 179 Value Dep
- ------------------------------------------------------------------------------------------------------------------------------------
--------- ---- -------- ---- ---------
Grand Total Count= 114 219450.43 0.00 11453.21 0.00 207997.22
Less disposals 0.00 0.00 0.00 0.00 0.00
--------- ---- -------- ---- ---------
Net 219450.43 0.00 11453.21 0.00 207997.22
========= ==== ======== ==== =========
- ----------------------------------------------------- Calculation Assumptions ------------------------------------------------------
Book Short Years Midquarter Convention Adjustment Convention
---- ----------- --------------------- ---------------------
Internal (N) (N) None
- -------------------------------------------------------- Asset Grouping/Sorting ----------------------------------------------------
Group: FILE LISTING
Include Assets that meet the following conditions:
Activity is currently A,D
Internal Book Placed In Service Date is between 01/01/1994 and 12/31/1994
Sort Assets by:
Class in ascending order and report subtotals