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<br /> 98- �t+��03s
<br /> HYPOTHECATION AGREEMENT
<br /> To: Archer Coo..perative Credit Union Date April 22 19_�
<br /> t�rc�,err���r ���`�6
<br /> Gentlemen:
<br /> In consideration of your making, renewing, or extending a loan, or loan to
<br /> Blauhorn Farm, Inc. 686 U Road Palmer, NF. h88f,4 ,
<br /> hereinafter referred to as the borrower,for which the following property belonging to me has been
<br /> tendered to you as collateral security:
<br /> Lot Six (6) , Rainbow Lake Third Subdivision, in the City of Grand
<br /> Island, Hall County, Nebraska.
<br /> and for the purpose of enabling said borrower to obtain credit therefor, I hereby certify that the
<br /> safd property has been duly assigned, released, transferred, and delivered by me to sald
<br /> borrower, and by these presents 1 do hereby assign, release,and transfer unto said borrower all
<br /> of my right,titie,and interest in and to said property,and hereby expressly authorize said borrower
<br /> to pledge or hypothecate ali or any part of said property for the indebtedness aforesaid, and ali
<br /> renewals and extensions thereof , and also for any and all other indebtedness of the same
<br /> borrower to you, created at any time before this authorization shall have been revoked in writing
<br /> and all renewals and extension thereof, and I waive notice of all or any such indebtedness or
<br /> extension or renewal thereof.
<br /> Furthermore, I request that you give,or continue to give said borrower credit in the form
<br /> of loans or renewals or extensions,as aforesaid,and in consideration of all or any such credit so
<br /> granted by you, I agree that all or any property pledged or hypothecated, as aforesaid, shall be
<br /> subject, in your hands or those of your assignees or piedgee or pledgees, to all powe�s which
<br /> would apply thereto by contract or othervvise if said properry in fact so pledged or hypothecated
<br /> stood in the name of said borrower himself and not in my name. The proceeds of all loans shall
<br /> be accounted for and paid over the borrower aforesaid, and said collateral securities may be
<br /> disposed of and/or paid over to or upon the direction of said borrower.
<br /> This agreement shall be binding on my heirs,executors,administrator, and assigns and
<br /> inure to the benefit of you successor and/or assigns.
<br /> Starostka Homes, Inc
<br /> BY�C�,�m L � .a�:h�,n �-.-���-'
<br /> Nancy B auhorn, Manager �
<br /> � •
<br /> I SS�.�-s/�'�`�
<br /> 6ENEIAI NOTARY-S�ef N�Insb
<br /> STEVE M.IAMON
<br /> IA�r Coaim.Exp.fe6r.27,2002
<br /> III-14 � 1992 Business&Banking Concepts,Inc.
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