Security Agreement (2002)Full Document 

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                               SECURITY AGREEMENT

     THIS SECURITY AGREEMENT (the "Agreement") is made and given as of the 2nd
day of August 2001, by INTEGRATED BUSINESS SYSTEMS AND SERVICES, INC., a South
Carolina corporation (the "Debtor"), to RICE STREET ASSOCIATES, LLC (the
"Secured Party").

                                   WITNESSETH:

     WHEREAS, the Secured Party has loaned on the date hereof all or a portion
of the sum of $300,000.00 to the Debtor as evidenced by Schedule A to that
certain Promissory Note of the Debtor to the Secured party dated the date hereof
(the "Note") and secured by a security interest in the property described in
Exhibit A attached hereto and incorporated herein by reference (collectively the
"Collateral"); and

     WHEREAS, the parties hereto contemplate that the Secured Party may lend
additional sums to the Debtor in the future pursuant to the Note or otherwise,
and desire that such contemplated future obligations also be secured by a
security interest in the Collateral.

     NOW, THEREFORE, for and in consideration of the premises hereof, the
promises contained hereinafter and other valuable consideration (the receipt and
sufficiency of which are hereby acknowledged), the Debtor does hereby grant unto
the Secured Party the security interests hereinafter described in accordance
with the terms and conditions hereinafter set forth.

     1. Grant of Security Interest. Debtor hereby pledges and grants to the
Secured Party a continuing security interest in the Collateral to secure payment
and performance of all of the Secured Obligations, as defined in Section 2

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