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<br />WHEN RECORDED MAIL TO:
<br />Loan Operations
<br />333 West Broadway
<br />Council Bluffs. IA 51501
<br />
<br />HAZARDOUS SUBSTANCES CERTIFICATE AND INDEMNITY AGREEMENT
<br />
<br />THIS HAZARDOUS SUBSTANCES AGREEMENT dated April 7, 2006, is made and executed among Pallet
<br />
<br />Advisors, Inc.; PO Box 3585; Omaha, NE 68103 (sometimes referred to below as "Borrower" and
<br />
<br />sometimes as "Indemnitor"); and American National Bank, Gretna Branch, 20635 Highway 370, Gretna, NE
<br />
<br />68028 (referred to below as "Lender"). For good and valuable consideration and to induce Lender to make
<br />
<br />a Loan to Borrower, each party executing this Agreement hereby represents and agrees with Lender as
<br />
<br />follows:
<br />
<br />PROPERTY DESCRIPTION. The word "Property" as used in this Agreement means the following Real Property located in Hall County, State of
<br />Nebraska:
<br />
<br />Lot One (1) and Two (2), Fairacres Dairy Eighth Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />
<br />The Real Property or its address is commonly known as 427 & 411 Shady Bend Rd, Grand Island, NE 68802.
<br />
<br />REPRESENTATIONS. The following representations are made to Lender, subject to disclosures made and accepted by Lender in writing:
<br />
<br />Use of Property. After due inquiry and investigation, Indemnitor has no knowledge, or reason to believe, that there has been any use,
<br />generation, manufacture, storage, treatment, refinement, transportation, disposal, release, or threatened release of any Hazardous Substance
<br />by any person on, under, or about the Property.
<br />
<br />Hazardous Substances. After due inquiry and investigation, Indemnitor has no knowledge, or reason to believe, that the Collateral,
<br />whenever and whether owned by previous Occupants, has ever contained asbestos, PCB or other Hazardous Substances, whether used in
<br />construction or stored on the Collateral.
<br />
<br />No Notices. Indemnitor has received no summons, citation, directive, letter or other communication, written or oral, from any agency or
<br />department of any county or state or the U.S. Government concerning any intentional or unintentional action or omission on, under, or about
<br />the Property which has resulted in the releasing, spilling, leaking, pumping, pouring, emitting, emptying or dumping of Hazardous
<br />Substances into any waters or onto any lands or where damage may have resulted to the lands, waters, fish, shellfish, wildlife, biota, air or
<br />other natural resources.
<br />
<br />AFFIRMATIVE COVENANTS. Subject to disclosures made and accepted by Lender in writing, Indemnitor covenants with Lender as follows:
<br />
<br />Use of Property. Indemnitor will not use and does not intend to use the Property to generate, manufacture, refine, transport, treat, store,
<br />handle or dispose of any Hazardous Substances.
<br />
<br />Compliance with Environmental Laws. Indemnitor shall cause the Collateral and the operations conducted on it to comply with any and all
<br />Environmental Laws and orders of any governmental authorities having jurisdiction under any Environmental Laws and shall obtain, keep in
<br />effect and comply with all governmental permits and authorizations required by Environmental Laws with respect to such Collateral or
<br />operations. Indemnitor shall furnish Lender with copies of all such permits and authorizations and any amendments or renewals of them and
<br />shall notify Lender of any expiration or revocation of such permits or authorizations.
<br />
<br />Preventive, Investigatory and Remedial Action. Indemnitor shall exercise extreme care in handling Hazardous Substances if Indemnitor
<br />uses or encounters any. Indemnitor, at Indemnitor's expense, shall undertake any and all preventive, investigatory or remedial action
<br />(including emergency response, removal, containment and other remedial action) (a) required by any applicable Environmental Laws or
<br />orders by any governmental authority having jurisdiction under Environmental Laws, or (b) necessary to prevent or minimize property
<br />damage (including damage to Occupant's own property), personal injury or damage to the environment, or the threat of any such damage or
<br />injury, by releases of or exposure to Hazardous Substances in connection with the Property or operations of any Occupant on the Property.
<br />In the event Indemnitor fails to perform any of Indemnitor's obligations under this section of the Agreement, Lender may (but shall not be
<br />required to) perform such obligations at Indemnitor's expense. All such costs and expenses incurred by Lender under this section and
<br />otherwise under this Agreement shall be reimbursed by Indemnitor to Lender upon demand with interest at the Loan default rate, or in the
<br />absence of a default rate, at the Loan interest rate. Lender and Indemnitor intend that Lender shall have full recourse to Indemnitor for any
<br />sum at any time due to Lender under this Agreement. In performing any such obligations of Indemnitor, Lender shall at all times be deemed
<br />to be the agent of Indemnitor and shall not by reason of such performance be deemed to be assuming any responsibility of Indemnitor
<br />under any Environmental Law or to any third party. Indemnitor hereby irrevocably appoints Lender as Indemnitor's attorney-in-fact with full
<br />power to perform such of Indemnitor's obligations under this section of the Agreement as Lender deems necessary and appropriate.
<br />
<br />Notices. Indemnitor shall immediately notify Lender upon becoming aware of any of the following:
<br />
<br />(1) Any spill, release or disposal of a Hazardous Substance on any of the Property, or in connection with any of its operations if such
<br />spill, release or disposal must be reported to any governmental authority under applicable Environmental Laws.
<br />
<br />(2) Any contamination, or Imminent threat of contamination, of the Property by Hazardous Substances, or any violation of
<br />Environmental Laws in connection with the Property or the operations conducted on the Property.
<br />
<br />(3) Any order, notice of violation, fine or penalty or other similar action by any governmental authority relating to Hazardous Substances
<br />or Environmental Laws and the Property or the operations conducted on the Property.
<br />
<br />(4) Any judicial or administrative investigation or proceeding relating to Hazardous Substances or Environmental Laws and to the
<br />Property or the operations conducted on the Property.
<br />
<br />(5) Any matters relating to Hazardous Substances or Environmental Laws that would give a reasonably prudent Lender cause to be
<br />concerned that the value of Lender's security interest in the Property may be reduced or threatened or that may impair, or threaten to
<br />impair, Indemnitor's ability to perform any of its obligations under this Agreement when such performance is due.
<br />
<br />Access to Records. Indemnitor shall deliver to Lender, at Lender's request, copies of any and all documents in Indemnitor's possession or
<br />to which it has access relating to Hazardous Substances or Environmental Laws and the Property and the operations conducted on the
<br />Property, including without limitation results of laboratory analyses, site assessments or studies, environmental audit reports and other
<br />consultants' studies and reports.
<br />
<br />Inspections. Lender reserves the right to inspect and investigate the Property and operations on it at any time and from time to time, and
<br />
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