Laserfiche WebLink
103601 <br />excepting any loss, damage, or destrufti_on that is fully covered by proceeds <br />of insuranoe or that results from ordinary use. <br />4. Debtor shall at all times keep collateral insured against loss, <br />damage, theft, and other risk, and such amounts, which such vMV*nies, and <br />under such policies and in such form as shall be satisfactory to secured <br />party. Such policy shall provide that the loss shall be payable to secured <br />party as his interest ray appear, and secured party may apply any proceeds of <br />such insurance that. my be received by secured party to payment of any of the <br />liabilities of the Debtor to secured party, after satisfying the first <br />security interest with N'oxvest Bank of Grand Island. <br />S. Secured party may•exwdne and inspect said collateral wherever <br />located, at any reasonmble time. <br />SEMON THtFE: ODLLATERAL ` <br />Until default heirearAer, Debtor may have possession of collateral and use <br />the same in any lawful mauuner not inconsistent wfth this"note and agreement or <br />with any policy of =suranx on any of collateral. _ <br />y S17CZ'ION FM: RE OF PXPMES <br />Secured Party my Perform any obligation of Debtor: hereunder than Debtor <br />fails to perform, and secured party may take any other awn that secured <br />Party deems necessary for the maintenance or preservation of any of the <br />collateral or the interest of secured party therein. Debtor shall'iwrediately <br />reinhurse secured party for all expenses incurred by secured party in <br />connection with the foregoing, together with interest thereon at the rate of <br />.z <br />14% per annum from the date incurred. _ <br />SBMON FIVE: DEFAULT <br />The ooaurrenee of any of the following events shall constitute a default: <br />.1. Nonpayment, when due, of any amount payable hereunder or failure of <br />4 <br />r,, <br />