Applicant hereby grants to the SOTA Offroad a continuing security interest in all the wheels, accessories, other inventory, and all the proceeds/products there from, whether now or hereafter existing or acquired, including insurance proceeds, sold to buyer which security interest covers all present and future sales of wheels and other inventory sold by the Company to the buyer. In the event of default in the payment of any sum due, Company shall have at any time thereafter the rights and remedies provided in the Uniform Commercial Code of the State of California including the right to take immediate possession of the collateral, sell the collateral at public or private sale, upon the terms and in such manner as the Company may determine.