Universal Property Development Corporation (fka UPDV)

[Buell]

dont want to get to far into this but:

it reads:
The Term Loan is secured by a lien, more fully described in the Security Agreement, on all the assets of the Registrant and the assets of its subsidiaries, and is further secured by the pledges, mortgages and other security interests set forth in the Loan Documents.

Normal loan legal, thus to protect the assets they have agreed to:

Pursuant to the terms of the Loan Documents, Mr. Kamal Abdallah, the Registrant's Chief Executive Officer and a member of the board of directors, and Mr. Christopher McCauley, the Registrant's Vice President and Secretary and a member of the board of directors, each agreed to the use of their respective shares of the Registrant's Series A Convertible Preferred Stock and other personal assets, as additional collateral for the Term Loan and to execute and provide personal guarantees for the repayment of the principal of the Term Loan and for the completion of the other commitments of the Registrant under the terms of the Loan Documents.

it's only a 3mil, they have already maked that this week (not a big deal)