On November 4, 1983 Hydrodyne Industries, Inc. entered into an accounts receivable loan agreement, a term note and a security agreement ("the loan agreements") with plaintiff National Westminster Bank USA ("the Bank"), and granted the Bank a security interest in all of its assets. As further security for the loans defendant Joseph Petito, Hydrodyne's president, executed a personal guarantee of Hydrodyne's obligations under the loan agreements. Thereafter, the Bank made advances...
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