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<br /> '`��•� . 3 � ���S�.CQi i A'i�RAi iTATIONAGREE� . ' � �
<br /> �.<i:. � '� , .._.:_.
<br /> -��:, . ' This Cross-Collateralization Agreeme,at made attd executed this/�'~day of May, 1997 � __
<br /> `�" - by a n d b e i w e e n H O N I E F E D E R A L S A V I N G S A N D LOAN ASSOCIATION OF GRAND `.}� ``� �
<br /> �. . ,�
<br />-�c • � ISLAND,hereinafter referred to as the"Lender",and TOIUIMY'S,INC.,a Ne6rastsa corporation; —;L� . ..
<br /> `'�� " ' EDWARD�BUILDING CORP.,a Nebraska corporation;and TOMMY D.EDWARDS, \� ,:
<br /> :e„ •
<br /> �' :x hereinafter cef�rred ta as"Horrower"(whether one or m�re). � - -
<br /> _;� . .. � •f:
<br /> s�, � WIINESSETH: , ,�r;-
<br /> �' �Diir. . .
<br />�`'' . •• ' WI�REpS,�ommy's,[nc.;Edwards Building Corpy and Tommy D.Edwards aze � .
<br /> .�7:' . ;� an interrelated business o erarions;
<br /> _t,. . t,
<br /> mutually interested i�t�e success of�ach other and engag;ed� P .. .
<br /> .-,� ;�;_; . . =,
<br />-;����.. .':;; WI-IEREAS,L.e�s��:�as agreed to advance addi�ionat fimds to I�orrower subject to tke �
<br /> ;.I. :;3;:` +�tn,_n ,dild , �� -
<br /> �:;� � continuation of exiss� � �, .
<br /> �{, . . •
<br /> ? • :�.� -
<br /> �,;. � ' � ;_ Q W���AS,s+.rc�co�ent for maiatenance of existing financing in gla�e is in gart � �:
<br /> W
<br /> �..': . i' cdnditionea�c;pon tb.e ca�.3ss-calla�..-Yatiralion of all existing indebtedness w the Boa��� .., , :
<br /> s;,,. • :..:<<,.. ,�:-
<br /> Y ` .,
<br /> `S�`.`'``. ;', NO�'.TI�I�'iE�RE,in caasi deratiac�o f t he m a a t�a l c o v e n a n t s h e r e i n c a n t a i.a e d,i t i� ��� ,,,�zY
<br /> � �� -_ ,s�'��"���.�
<br /> y� i. agreed: ,'. :3
<br /> _:�
<br /> �`:; ` .. . . � 4'��-
<br /> ,� : , �. 1. Indebtedre� Edwazds Building Carp.and To�zny D.Edwards are ia�Er`.�d to
<br /> � .� `.:..;'�. ' Lender in respect to a�.instruction Line of Credit Draw Note dated December 19,19R6 in the .,�
<br /> �"s; '..; origiunal principal a�arsrat of Six Hundred 17►ousand and Nd/l0U DoIL��$600,000.00}and �":�<:ti,=�;-1,:--..::-_
<br /> � ,i . . =:F�' concurrens,�w vv�th the executian of this Agreement Edwarr3.s•�uilding�czp.,Tommy's Inc.aad :,. ,� ��
<br /> •�� Tommy IJ.�dwards have executed and delivered a Deed of Tn�st Note in the ori�al principal '�`"`
<br />'"� .�` �� amount of Four Hundred Nin TAousaud and No/10m�oilars($490,000.00)wlua�a ins�truments • � .�••�-,
<br /> , `
<br /> . � evidencing indebtedness owing from Borrov.�r�o Lender are to be and remain suia3ect to the � �::
<br /> ��5 . terms and conditions of this Cross-Collateral.i�sza�n Ag�eemen� • , �;��-_
<br /> ;�'";:� . . .. �: . , :
<br />���"� ' j, 2. �nditions Precedent. Prior to the cantinued e:ctension of credit now�isting or � �;�..,�y f
<br /> '�F.r•I , . .
<br /> �-.T-::� :�:� hereafter to be made to the Borrower,the Leuder has requi�d the securiti7ation vfall such , .
<br /> �'`"' ''` � indebtedness describe�herein by a cross-collateralizat's�n of each loan and the security given �r�• `
<br /> 'T".
<br /> Y'2 ��r' ..YL�I:t� '•�
<br />��."; :;;;�' ' therefor. ��f�'}<<�• �
<br /> . ,_i.�. ,.ti,�..
<br />.1-•::;..- �. . ; . ,
<br /> �'�`�'�: '. .` ' 3. �t1t. Prior w the execution of ihis AgR+eee�rent,Tommy's Inc.,a Nebraska • . . ��
<br /> �..:, e ..
<br /> �;`��• - � . - � corporarion,has executed and delicered to the Lender,a Deed of Trust recorded on September 2. ` •t. '�"
<br />;�,�':'.;. � � 1994 as Document No.94-107346 and Edwards Buil�a�cg Corp.,a Nebraska corporation,has
<br /> x;�;�:.- � � �° executed and delivered to the Lender,a Deed of Trust ffecorded on December 20, 1996 as • � . ,
<br />�}� �' . �. ; Document No.96-1 a9891 in the�ffice of the Register rof Deeds of Hall County,Nebraska isn .
<br /> {a' :
<br /> >� .= respect w c�at real estate descri[��as: . .
<br />_•.�.. � ,. " , ..
<br /> :;�. : � ,
<br /> T,��i�� ` I,a��e(1),ia"Fonner Subdivision",an Additian to the City of Grand Is!aitd .' . :
<br /> 'E•�'�� � � � � H�i�Q;aunt��,?�ebraslca; �";:��. ; .
<br /> �:,..
<br />�� '.r , •,r . :�i:� 3nd ' .
<br /> `��'�� .� � �� �J�`�'' Part of the Southeast Quarter of the Suutheast�uarter(SEl/4SEl/4)of Se�tion �
<br /> ``�;`:�:; .: ,;�, ;.; � •�`i Twenty-One f?1),Township Eleven(11)Nardh,Range Nine(9)West of thc 6th ;.�,,s, •
<br /> :`_ �.•; '! :,. ,
<br /> '`"� P.M.,Hall Caanty,Nebraslca,more particutarly described r�s follows: Beginning
<br /> �..,.. .,,'.:.,;,;;, 'I �, . :.•.;j :
<br /> � � at a point in the East line of said Secrion wtuch is 341 Feet Sauth of thc Southeast
<br /> `�� ` � '� �� Corner of Pleasant Home Subdivision,as the point of be�inning and continuing t
<br />-:�::.,� {
<br /> r.��:.. . ' �I Souih 165.5 feet,thence West and parallel with this Subdivision 327 feet;thence . •
<br /> M. .
<br /> ��,�.�.,;. � North parallel with the F.ast line 165.5 feet,thence East 327 feei to point of '
<br /> �_��, � � begiruvng. ax.�n �h'lg,."I7iere�am a certain tract of land more padicularly ,
<br /> descnbed as follows: A tract of land being the southerly six(6)feet of the .
<br /> -�;_�`' . � noriherly three hun�d forty-seven(34n feet o f t he wester ly t h ree an d five ten t h s
<br /> (3.5)feet of the easterly thitty-six and five tenths(36.5)feet of the Southeast
<br /> ���� � � Qnarter of the Southeast Quarter(SE]/4SE1/4)of said Section Twenty-One(21), • .
<br /> t lyin�southerly and contiguous to Pleasant Home Subdivision in the City of Grand . �
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