I understand:

THE UNDERSIGNED (THE “CLIENT”) HEREBY REPRESENTS AND WARRANTS THAT CLIENT HAS A VALID INTEREST IN THE COLLATERAL DESCRIBED BELOW AND HAS A LEGAL RIGHT TO IMMEDIATE POSSESSION OF SAID COLLATERAL. THEREFORE, CLIENT AUTHORIZE PARAMOUNT RECOVERY SERVICES ITS EMPLOYEES AND AGENTS (COLLECTIVELY, “PRS”) TO REPOSSESS THE COLLATERAL DESCRIBED BELOW. FURTHERMORE, CLIENT AGREES TO INDEMNIFY PRS AND HOLD PRS HARMLESS FROM ANY AND ALL LIABILITY ARISING OUT OF THE REPOSSESSION RESULTING FROM ANY NEGLIGENCE, ERROR OR OMISSION BY THE CLIENT, INCLUDING ANY ERRORS REGARDING CLIENT’S RIGHT TO POSSESSION OF SUCH COLLATERAL. IT IS UNDERSTOOD THAT PRS WILL ACT AS AN INDEPENDENT CONTRACTOR WHILE MAKING SUCH REPOSSESSION AND THAT CLIENT HAS NO RIGHT TO CONTROL AND DIRECT THE MANNER IN WHICH PRS PERFORMS SUCH SERVICES. THE TIME, MANNER AND METHOD OF PERFORMANCE OF SUCH SERVICES SHALL BE DETERMINED BY PRS IN ITS SOLE DISCRETION. CLIENT AGREES TO IMMEDIATELY NOTIFY PRS OF ANY SETTLEMENTS MADE BY CLIENT SO THAT PRS CAN CEASE ITS REPOSSESSION EFFORTS. UNLESS OTHERWISE AGREED TO OR SPECIFIED, CLIENT AGREES TO PAY PRS’S STANDARD RATES, FEES AND EXPENSES OR SUCH FEES AND EXPENSES SPECIFIED AND AGREED TO BY CLIENT AND PRS. TO THE EXTENT ANY LEGAL DISPUTES ARISE OUT OF THIS ASSIGNMENT, BY SIGNING BELOW, CLIENT AGREES THAT SUCH DISPUTES SHALL BE GOVERNED BY THE LAWS OF THE STATE OF CALIFORNIA AND ALL SUCH ACTIONS MAY ONLY BE BROUGHT AND ADJUDICATED IN THE STATE OF CALIFORNIA.