Borrower hereby grants to Lender a continuing lien, as security for the Note and all other indebtedness of the Borrower to the Lender, upon any and all of its monies held in bank accounts of Borrower maintained at Lender, now or hereafter held or received by or in transit to, the Lender from or for Borrower, and also upon any and all deposits (general or special, matured or unmatured) and credits of the Borrower against the Lender, held by Lender at any time existing. Upon the occurrence of any Event of Default as specified above, the Lender is hereby authorized at any time and from time to time, without notice to Borrower to set off, appropriate, and apply any and all items hereinabove referred to against any or all indebtedness of the Borrower to the Lender.