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<br />COMMERCIAL SECURITY AGREEMENT
<br />202003122
<br />Principal
<br />$250,330.51
<br />Loan Hate
<br />11-04-2015 _11-01-2020
<br />Maturity
<br />Loan No
<br />_ 4277812112
<br />can / coil
<br />Account
<br />2137850509
<br />Officer
<br />W1886
<br />Initials
<br />References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan o item.
<br />Any item above containing "'" has been omitted due to text length limitations.
<br />Borrower: Katherine F Hoff
<br />1230 Sheridan Drive
<br />Hastings, NE 68901
<br />Grantor PSK, LLC
<br />305 N Hastings Ave., Ste 201
<br />Hastings, NE 68901
<br />Lender. Wells Fargo Bank, National Association
<br />Grand Island - Main
<br />304 W. 3rd Street
<br />Grand Island, NE 68801
<br />THIS COMMERCIAL SECURITY AGREEMENT dated November 4, 2015, is made and executed among PSK, LLC ("Grantor"); Katherine F Hoff
<br />("Borrower"); and Wells Fargo Bank, National Association ("Lender").
<br />GRANT OF SECURITY INTEREST. For valuable consideration, Grantor grants to Lender a security interest in the Collateral to secure the
<br />Indebtedness and agrees that Lender shall have the rights stated In this Agreement with respect to the Collateral, In addition to all other rights
<br />which Lender may have by law.
<br />COLLATERAL DESCRIPTION. The word "Collateral" as used in this Agreement means the following described property, whether now owned or
<br />hereafter acquired, whether now existing or hereafter arising, and wherever located, in which Grantor is giving to Lender a security interest for
<br />the payment of the Indebtedness and performance of all other obligations under the Note and this Agreement:
<br />All Inventory, Chattel Paper, Accounts, Equipment, General Intangibles and Fixtures
<br />In addition, the word "Collateral" also includes all the following, whether now owned or hereafter acquired, whether now existing or hereafter
<br />arising, and wherever located:
<br />(A) All accessions, attachments, accessories, tools, parts, supplies, replacements of and additions to any of the collateral described herein,
<br />whether added now or later.
<br />(B) Ali products and produce of any of the property described in this Collateral section.
<br />(C) All accounts, general intangibles, instruments, rents, monies, payments, and all other rights, arising out of a sale, lease, consignment
<br />or other disposition of any of the property described in this Collateral section.
<br />(D) All proceeds (including insurance proceeds) from the sale, destruction, loss, or other disposition of any of the property described in this
<br />Collateral section, and sums due from a third party who has damaged or destroyed the Collateral or from that party's insurer, whether due
<br />to judgment. settlement or other process.
<br />(E) All records and data relating to any of the property described in this Collateral section, whether in the form of a writing, photograph,
<br />microfilm, microfiche, or electronic media, together with all of Grantor's right, title, and interest in and to all computer software required to
<br />utilize, create, maintain, and process any such records or data on electronic media.
<br />Some or all of the Collateral may be located on the following described real estate:
<br />2705 Plum Creek Parkway, Lexington, NE 68860
<br />A tract of land located In the North Half of the Southwest Quarter of section 17, Township 9 North, of Range 21, West of the Sixth
<br />Principal Meridian, in the City of Lexington, Dawson County, Nebraska, more fully descred as follows:
<br />Commencing at a point 60 feet North of the Southeast corner of said North Half of the Southwest Quarter, thence North 250 feet; thence
<br />West 300 feet parallel to the South line of said North Half of the Southwest Quarter, thence South 260 feet parallel to the East line of said
<br />North Half of the Southwest Quarter, thence East 300 feet, to the place of beginning; EXCEPTING THEREFROM a tract of land conveyed to
<br />the State of Nebraska, Department of Roads, by Warranty Deed recorded in Book 139, Page 483, and Quitclaim Deed recorded in Book
<br />139, Page 486, all in the Deed Records of Dawson County, Nebraska; AND EXCEPTING THEREFROM one half of all minerals and oil
<br />underlying the surface of said land and all rights and easements in favor of the estate of sald minerals and oiL
<br />7980 S Highway 281, Grand Island, NE 68803
<br />Lot Three (3), Highway Motels Subdivision of the Southeast Quarter of the Southeast Quarter (SE 114 SE 1/4) of Section Twenty-four (24),
<br />Township Ten (10) North, Range Ten (10) West of the 6th P.M., Hall County, Nebraska.
<br />228 N Burlington Ave., Hastings, NE 68901
<br />Lots 6 through 12, Block 20, Original Town, City of Hastings, Adams County, Nebraska.
<br />(the record owner of the real property is PSK, LLC; 305 N Hastings Ave., Ste 201; Hastings, NE 68901).
<br />CROSS -COLLATERALIZATION. In addition to the Note, this Agreement secures all obligations, debts and liabilities, plus interest thereon, of
<br />either Grantor or Borrower to Lender, or any one or more of them, as well as all dams by Lender against Borrower and Grantor or any one or
<br />more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or
<br />otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether
<br />Borrower or Grantor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise,
<br />and whether recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to
<br />repay such amounts may be or hereafter may become otherwise unenforceable.
<br />FUTURE ADVANCES. In addition to the Note, this Agreement secures all future advances made by Lender to Borrower regardless of whether
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