As security for the loan of $60,000 from plaintiff, as evidenced by a promissory note in that amount, defendant corporation pledged all its inventories and accounts receivable pursuant to the term of a standard form security agreement. Defendant Gerald Clear, owner of said corporation, and his wife, Janet L. Clear, personally guaranteed the note and, as collateral security for that personal guarantee, executed a second mortgage on their personal residence in the sum of $30...
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