2X to 10X – Safex Token Collateral

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Safex Token Lending Address

Before filling out the below information send asset Safex Token to the below address and have your information ready for the sending this form.
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SAFeth Leveraged Automated Loan
SAFeth Loan
Safeth ERC20 Address
Safex Token Address
Amount of SFT Sent
Tx hash
Tx public key
Payment id
Amount to Borrow

SAFeth LOAN AGREEMENTS & CONDITIONS

Purpose and Use of Collateral $SFT
1.
For valuable consideration, receipt of which is hereby
acknowledged, the Owner hereby grants a crypto asset interest in the Collateral together with any proceeds, product, increase in value and income including rents thereon, and any additional or replacement collateral. The Collateral Safex Token is hereby pledged, whether held by a third party or deposited with the Surety, as security to unconditionally and fully protect the Surety in connection with any and all bonding obligations as may exist or be created in the future between the Owner, the Principal, any current or hereafter created or acquired subsidiary, affiliate, joint venture, or other legal entity in which the Owner or Principal has a substantial, material, or beneficial interest, or any other third party at the request of the Owner, Principal or Indemnitors. The Surety may enforce the terms of the Collateral Security Agreement and Receipt (hereinafter, the “Agreement”) to protect and/or reimburse the Surety:
i.
For the enforcement and fulfillment of the provisions of the General Indemnity Agreement, Agreement of Indemnity, and/or other indemnity agreement (hereinafter, the “Indemnity Agreement”);
ii.
Against any and all demands, liabilities, losses, costs, damages, attorneys’ fees and expenses, investigative fees and expenses, accountants’ fees and expenses, engineering and other professional or consultants’ fees and expenses of any kind, in-house attorneys’ fees and expenses, interest, court costs and any and all other types of losses, costs or expenses of whatsoever kind or nature, which the Surety may sustain and/or incur and which arise by reason of or in any manner in consequence of, no matter how remotely, the execution or procurement by the Surety of any bonds issued or procured by the Surety on behalf of the Principal, recognizance, undertaking or other obligation, regardless of when issued or incurred (all of which, together with any continuations and modifications thereof, are hereinafter referred to as the “Bonds”), heretofore or hereafter executed, assumed or procured by the Surety at the instance or request or on behalf of
either the Owner or the Principal;
iii.
For the payment of all premiums on such Bonds and all other items of indebtedness due to the Surety and/or its agent from the Principal or Owner;
iv.
For the performance of every agreement (including continuations or modifications thereof, with or without consent of the Owner) made by the Owner or by any Principal concerning said Bonds;
v.
To secure and indemnify the Surety from any and all losses, costs, interests, expenses, and/or legal fees which Surety may incur or become liable for under the terms and provisions of all the agreements provided by the Owner and/or the Principal to the Surety, including but not limited to any Indemnity Agreement.
2.
To accomplish the purposes of such Collateral deposit, the Surety is authorized, and hereby appointed as attorney-in-fact for the Owner to act at any time and without notice or legal process, to sell, cash, surrender and use said Collateral, and to apply the Collateral or any proceeds to payment of or reimbursement in accordance with the terms of the Indemnity Agreement, as it may elect; and, at its option and in its sole discretion, to sell any of said Collateral security at public or private sale to itself or to any person, or to deposit, liquidate, convert, cash, exchange, renew or dispose of said Collateral or the proceeds thereof, in any manner, in such form and on such terms as it deems proper.
3.
Owner represents him/her/itself to be the sole owner(s) of the Collateral, and agrees to save the Surety harmless from any loss, costs, expenses, damages or attorneys’ fees arising from claims to any part of the Collateral by any person(s) and/or entity claiming adversely to the Owner or Surety. The Undersigned hereby appoints the Surety or the Surety’s lawfully designated representative to execute any form(s) or document(s) which may be necessary to perfect the Surety’s lien(s) on such Collateral including but not limited to forms proscribed by the Uniform Commercial Code such as form UCC-1, UCC-2 and UCC-3.
4.
If the Collateral, any substitutions thereof, or additions thereto, shall for any reason be of a value insufficient for the Surety’s
protection, in the Surety’s opinion, the Owner and/or the Principal shall, upon demand, deposit additional collateral satisfactory to the Surety, of a value at least equal to the amount of the Bonds. If the Owner and/or the Principal do not deposit additional collateral within five (5) days after demand, the Surety may sell, deposit, invest, convert, cash, liquidate, exchange, renew, or dispose of the Collateral, at its discretion, including a public or private sale and the Surety may be the purchaser at such sale.
5.
The Surety shall not be liable for any loss or depreciation of the Collateral or the proceeds thereof, or damage thereto, and the Surety assumes no responsibility for the earning of any income thereon. In connection with any certificate of deposit or any other instrument evidencing the deposit of money with any person, firm or corporation included in the Collateral, it is understood that the Owner has selected the depository, or appointed the Surety to select the depository and the Owner assumes full responsibility for the safety of the deposited funds.
B. Types of Collateral
1.
SAFEX TOKEN and ONLY SAFEX TOKENS
If the Collateral pledged herein is in the form of Safex tokens, the Collateral is being delivered to the Surety to be held in the Surety’s name. Ownership and control of the Collateral is vested in the Surety until all Bonds are exonerated in accordance with Section D of this Agreement. The Surety will pay simple interest at a rate of one half of one percent (0.5%) per annum to the founders added to the designated amount of interest determined by their loan. The Surety is entitled to retain any amount of accrued interest earned in excess of the stated rate. If paid, interest will be paid in accordance with Section D of this Agreement as long as the Owner delivers to the Surety an executed IRS Form W-9 or W-8. When IRS Form W-8 is applicable, the Surety will withhold U.S. tax as required by IRS Pub. 515. In the event the Owner fails to deliver to Surety an executed IRS Form W-9 or W-8 within thirty (30) days subsequent to the release of Collateral to the Owner, the Owner shall forfeit all rights to interest. Not withstanding anything to the contrary in this Agreement, any interest paid to the Owner upon the release of the Collateral may be greater than or less than the interest received by the Surety on such Collateral. Interest shall not be paid on Collateral deposited with the Surety for ninety (90) days or less.
2.
Irrevocable Letter of Credit.
If the Collateral pledged herein is in the form of an Irrevocable Letter of Credit (hereinafter“ILOC”), it is the responsibility of the Owner and/or Principal to provide the Surety with a notice of renewal of that ILOC at least forty-five (45) days prior to its expiration date. This responsibility of renewal by the Owner and/or Principal shall continue for every renewal period unless the Owner and/or Principal receive written notification from the Surety that no renewal will be required. Should the Owner and/or Principal fail to provide a notice of renewal to the Surety within the time allowed under this paragraph then the Surety may require the Owner and/or Principal to pay a nonrefundable processing fee of $300.00 to the Surety and any other actual expenses incurred by the Surety in obtaining such a renewal. In addition to this fee, the Surety may exercise its right to draw on the ILOC and such proceeds shall be considered substitute Collateral under this Agreement.
The Surety reserves the right, in its sole and absolute discretion, to accept or reject the issuing bank of the ILOC. At any time following receipt of an ILOC by the Surety, the Surety may, in its sole and absolute discretion, demand a replacement ILOC from a different issuing bank. The Owner and/or Principal shall, upon demand by the Surety, provide a replacement conforming ILOC within ten (10) calendar days. Should the Owner and/or Principal fail to provide a replacement ILOC to the Surety within the time allowed under this paragraph, the Surety may exercise its right to draw on the ILOC and such proceeds shall be considered substitute Collateral under this Agreement and/or require the Owner and/or Principal to pay a nonrefundable processing fee of $300.00 to the Surety in addition to any other actual expenses incurred by the Surety in obtaining such a renewal.
The Surety, in its sole and absolute discretion, may draw up to the full amount of the ILOC to satisfy any claims made or may be made on/against the Surety and/or all items of indebtedness due to the Surety under or for said Bonds whether known or unknown to the Surety at the time of the draw.
NO Substitution of Collateral!!!!
D. Release of Collateral
1. In General.
The Surety may consider release of the Collateral upon its receipt of written evidence and/or information satisfactory to the Surety (in the Surety’s sole discretion) of the following:
i.
Discharge and exoneration from all liability under the Loan;
ii.
Proof of ownership of the collateral by the applicant requesting its release; and
iii.
Payment of all amounts due to the Surety from the Owner and/or Principal as provided herein and/or in any Indemnity Agreement. The Owner and Principal recognize that differences of opinion with regard to proof of ownership and of termination of the Surety’s liability require the giving of considerable latitude to the Surety in the determination of what evidence is satisfactory.
In the event the Surety determines the evidence is satisfactory to support a release of the Collateral, the Surety shall, within a reasonable period of time, return the Collateral or the proceeds thereof, less any deductions pursuant to the terms of this Agreement and/or any Indemnity Agreement.
2.
Safex Token Specific Collateral Release.
Release of the Collateral by the Surety will further be determined in accordance with the specific types of said Assets as detailed herein below:
i.
The Surety will retain the Collateral for a minimum of ninety (90) days after project or contract completion and acceptance by the Owner/Obligee. Up on expiration of ninety (90) days from acceptance by the Owner/Obligee, the Surety will consider releasing upon debt obligation is fulfilled with interest.
the Collateral if the following conditions are met:
a.
There are no circumstances which may cause a claim, in the sole judgment of the Surety;
b.
No claim has been made against any Loan for which the Collateral was posted;
c.
The Principal has fulfilled all obligations under the terms of the smart contract(s)
d.
The collateralized Asset $SFT must be claimed within 180 days after the repayment of the loan, if upon the days has passed the collateralized asset will become property of SAFeth.io and its founders.

.

iii.
Lost Loan Account.
The Surety will consider releasing the Collateral upon receipt by the Surety of evidence which
demonstrates one or more of the following events has/have occurred:
a.
Final judgment confirming quiet of title in favor of the Principal;
b.
Recorded substitution of trustee and deed of full re-conveyance executed by deed of trust beneficiary; or
c.
Expiration of all applicable statute of limitations.
iv.
Lien Release Bonds.
The Surety will consider a release of the lien release bond in the form approved by the Surety and
executed by the Obligee, or a final judgment fully exonerating the Surety from the lien release bond.
v.
All Other Bonds or Classes of Business
. The Surety will consider releasing the Collateral based on its review of underwriting and other criteria which may be in force at the time of the request for release of the Collateral.
3.
Until the requirements of Section D(2) of this Agreement are satisfied, the Surety will not consider release of the Collateral and will have no obligation to the Owner of the Collateral to release the Collateral. Upon exoneration of said Bonds, the Collateral held by the Surety may be subject to state unclaimed property laws.
E. Additional Collateral Provisions
1.
This Agreement may not be modified, amended, assigned, negotiated, transferred or changed without the express written consent of a duly authorized officer of the Surety.
2.
By exercising or failing to exercise any of its rights, options or elections hereunder, the Surety shall not be deemed to have waived any breach or default on the part of any of the Owner and/or Principal or to have released any undersigned from any Owner and/or Principal of his/her/its/their obligations hereunder, unless such waiver or release is in writing and is signed by a duly authorized officer of the Surety. In addition, the waiver by the Surety of any breach or default hereunder shall not be deemed to constitute a waiver of any succeeding breach.
3.
The Surety, the Owner, and the Principal agree that the place of performance of this Agreement, including the promise to pay the Surety, shall be in Los Angeles County, California, and venue for any suit, arbitration, mediation or any other form of dispute resolution shall be, at Surety’s option, the location of the collateral or Los Angeles County, California.
4.
All provisions of the Indemnity Agreement are incorporated herein by reference. The Owner understands that he/she/it is entitled to receive a copy of the Indemnity Agreement and the Surety agrees to provide said copy to the Owner, upon request.
5.
It is understood and agreed by the Owner and Principal that the rights, powers and remedies given to the Surety under this Agreement shall be and are in addition to, and not in lieu of, any and all other rights, powers and remedies which the Surety may have or acquire against the undersigned or others whether by the terms of any other agreement, including the Indemnity Agreement, or by operation of law or otherwise.
6.
The Surety shall be under no obligation to proceed against any or all of the Collateral before proceeding against any Principal or indemnitor of any Indemnity Agreement.
7.
If any part of this Agreement is found by a court of competent jurisdiction to be contrary to law, only that part of the Agreement is null and void and the balance of the Agreement continues in force until terminated or amended.
FINALLY CRYPTO ASSETS AND CURRENCIES ARE NON REGULATED TOKENIZATION It is up to YOU to follow and obey all LOCAL LAWS SAFeth.io is not responsible for your actions and does not hold any responsibility how you use your funds.