ADDITIONAL PROVISIONS 200502381
<br />DEBTOR WARRANTS AND COVENANTS: (1) That except for the security interest granted hereby Debtor is, or to
<br />the extent that Collateral is acquired after the date hereof, will be, the owner of the Collateral free from any adverse lien, security
<br />interest or encumbrance; and the Debtor will defend the Collateral against all claims and demands of all persons at any time
<br />claiming the same or any interest therein. (2) That no financing statement covering the Collateral or any proceeds thereof is on
<br />file in any public office and that at the request of Security Party, Debtor will join with Secured Party in executing one or more
<br />financing statements pursuant to the Nebraska Uniform Commercial Code in form satisfactory to Secured Party and will pay the
<br />cost of filing such financing statement, this security agreement and any continuation or termination statement, in all public offices
<br />wherever tiling is deemed by Secured Party to be necessary or desirable; and if the Collateral is attached to real estate prior to the
<br />perfection of the security interest granted hereby or if the Collateral includes crops or oil, gas or minerals to be extracted or
<br />timber to be cut, Debtor will, on demand of Secured Party, furnish Secured Party with a disclaimer or disclaimers or
<br />subordination agreement signed by all persons having an interest in the real estate, disclaiming or subordinating any interest in
<br />the Collateral which is prior to the interest of Secured Party. (3) Not to sell, transfer or dispose of the Collateral, nor take the
<br />same or attempt to take the same from the county where kept as above stated, without the prior written consent of the Secured
<br />Party. (4) To pay all taxes and assessments of every nature which may be levied or assessed against the Collateral. (5) Not to
<br />permit or allow any adverse lien, security interest or encumbrance whatsoever upon the Collateral, and not to permit the same to
<br />be attached or replevined. (6) That the Collateral is in good condition, and that he will at his own expense, keep the same in good
<br />condition and from time to time, forthwith, replace and repair all such parts of the Collateral as may be broken, worn out or
<br />damaged without allowing any lien to be created upon the Collateral on account of such replacement or repairs, and that the
<br />Secured Party may examine and inspect the Collateral at any time, wherever located. (7) That he will at his own expense keep the
<br />Collateral insured in a company satisfactory to Secured Party against loss, as appropriate, by theft, collision, fire and extended
<br />coverage, with loss payable to Secured Party as its interest may appear, and will on demand deliver said policies of insurance or
<br />furnish proof of such insurance to Secured Party. (8) At its option Secured Party may procure such insurance, discharge taxes,
<br />liens or security interests or other encumbrances at any time levied or placed on the Collateral and may pay for the repair of any
<br />damage or injury to or for the preservation and maintenance of the Collateral. Debtor agrees to reimburse Secured Party on
<br />demand for any payment or expense incurred by Secured Party and interest charged at the maximum rate allowed by law. (9)
<br />That he will not use the Collateral in violation of any applicable statute, regulation or ordinance and if any of the Collateral is
<br />motor vehicles the same will not be rented, used in rental service nor in any speed or endurance contest.
<br />UNTIL DEFAULT Debtor may have possession of the Collateral and use it in any lawful manner not inconsistent with
<br />this agreement and not inconsistent with any policy of insurance thereon, and upon default Secured Party shall have the
<br />immediate right to the possession of the Collateral.
<br />DEBTOR SHALL BE iN DEFAULT under this agreement upon the happening of any of the following events or
<br />conditions: (1) default in the payment or performance of any obligation, covenant or liability contained or referred to herein or in
<br />any note evidencing the same; (2) any warranty, representation or financial statement made or furnished to Secured Party by or
<br />on behalf of Debtor is discovered to have been false in any material respect when made or furnished; (3) any event which results
<br />in the acceleration of the maturity of the indebtedness of Debtor to others under the indenture, agreement or undertaking; (4) loss,
<br />theft, damage, destruction sale or encumbrance to or any of the Collateral, or the making of any levy, seizure or attachment
<br />thereof or thereon; (5) death, dissolution, termination of existence, insolvency, business failure, appointment of a receiver of any
<br />part of the property of, assignment for the benefit of creditors by, or the commencement of any proceeding under any bankruptcy
<br />or insolvency laws by or against Debtor or any guarantor or surety for Debtor.
<br />UPON SUCH DEFAULT and at any time thereafter, or if it deems itself insecure, Secured Party may declare all
<br />Obligations secured hereby immediately due and payable and shall have the remedies of a secured party under the Nebraska
<br />Uniform Commercial Code. Secured Party may require Debtor to assemble the Collateral and deliver or make it available to
<br />Secured Party at a place to be designed by Secured Party which is reasonably convenient to both parties, Unless the Collateral is
<br />perishable or threatens to decline speedily in value or is a type customarily sold on a recognized market, Secured Party will give
<br />Debtor reasonable notice of the time and place of any public sale thereof or of the time after which any private sale or any other
<br />intended disposition thereof is to be made. The requirements of reasonable notice shall be met if such notice is mailed, postage
<br />prepaid, to the address of Debtor shown at the beginning of this agreement at least five days before the time of the sale or
<br />disposition.
<br />No waiver by Secured. Party of any default shall operate as a waiver of any other default or of the same default on a
<br />future occasion. The taking of this security agreement shall not waive or impair any other security said Secured Party may have
<br />or hereafter acquire for the payment of the above indebtedness, nor shall the taking of any such additional security waive or
<br />impair this security agreement; but said Secured Party may resort to any security, it may have in the order it may deem proper,
<br />and notwithstanding any collateral security, Secured Party shall retain its rights of set -off against Debtor.
<br />All rights of Secured Party hereunder shall inure to the benefit of its successors and assigns; and all promises and duties
<br />of Debtor shall bind his heirs, personal representatives or his or its successors or assigns. If there be more than one Debtor, their
<br />liabilities hereunder shall be joint and several.
<br />This agreement shall become effective when it is signed by Debtor.
<br />ADDENDUM
<br />The undersigned, hereinafter "Owner /Debtor ", owns or has an interest in the collateral described on the reverse side of
<br />this agreement, but is not a party to the obligation secured by this agreement. By executing this agreement, Owner /Debtor
<br />undertakes no obligation for repayment of such obligation except to the extent of providing said collateral as security for
<br />performance of the obligation. All provisions of this agreement apply to Owner /Debtor and the term "Debtor" as used in this
<br />agreement and any accompanying financing statement refers collectively to the Debtor, Owner /Debtor or both as the context may
<br />require.
<br />Owner /Debtor
<br />doc22.doc 2 Of 2
<br />
|