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<br />Security
<br />Agreement
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<br />88- 100579
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<br />DATE January 19
<br />
<br />19~
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<br />TRIAD PROPERTIES LIMITED
<br />PARTNERSHIP, BY TRIAD INVESTMENTS
<br />_-1qtRPORAtIQJII L GE_N~ML l'AB.'l'RER
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<br />i DEBIOR
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<br />I SECURED
<br />PARTY
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<br />~QRW~S'LHANK.NEBRASKA. _lLA'__~-i
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<br />I . BUSINESS
<br />RE~NCE .
<br />IMIDRffiS : P.O. BOX 188
<br />I--.~'----r-'u-----~-- -~--- -.-
<br />I CITY, ,
<br />STATE & ;
<br />. ZIPCDDE ,ALDA NEBRASKA 68810
<br />L:.~____~____L____"__.___ _. 'n___ _ _._.
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<br />_ --+~u__ __
<br />; CITY,
<br />, STATB ,
<br />.UJ~_CDDE_____L GRAND JSJ~ANOL NEItRAS~8.Q2 __--.J
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<br />ADDRESS
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<br />.------i
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<br />P.J), _ BOX_l7J&
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<br />1. Security Infllrest and CVII~tef8l, To secure Ihe paymenl and performance 01 each and every debl, liability and obligation of every type and descriplion which Deblor may now or al any time
<br />hereafl~r owe 10 Secured Party (whelher such debl. liability or obligation now exists or is hereafler crealed or incurred. whelher il IS currenlly conlemplaled by Ihe Deb!or and Secured Party. whether
<br />any documents evidencing II reler 10 Ihis Security Agreement. whether il arises wilh or wilhout any documenls (e.g. obligations 10 Secured Party crealed by checking overdralls), and whether it is or
<br />may be direcl or indirecI. due or to become due. absolule or conlingent. primary or secondary, liquidaled or unliquidated, or joinl, severat or joinl and sweral: all such debls. liabilities and obligations
<br />being herein cofleclively referred 10 as Ihe "ObIi(J03tions"). Deblor hereby grants Secured Party a secunty inleresl (herem called Ihe "Se"..unty Inlerest"} in Ihe 101l0lVing property (herein called Ihe "Collaloral')
<br />(check applicable boxes and complete inlormation)
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<br />(a) INVENTORY
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<br />C All invenlory 01 DeDtor. whether now owned or hereafler acqUIred and wherever localed:
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<br />(b) fOUlPMEN~ FARM PRuDUCTS AND CONSUMER GOODS.
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<br />C All equipment olDeDtor. whelher now owned or hereafler acquired. including but nOllimiled to all present and future machinery, vehicles, lurniture, fixtures, manutacluring equip.
<br />ment, larm machinery and eqUIpment. Shop equipment. ollice aM recordlreepmg eqUlpmenl. parts and lools. and the goods descr,bed in any equipment schedule or lisl herewilh
<br />or hereafler lumished to Secured Parry by Debtor (bul no such schedule or IISI need be fumlshed m order lor the sewnly mleresl granted herein 10 be valid as 10 all olDebtor~ equipmenl).
<br />
<br />:::J Alllarm produCls 01 DeblOr. whelher now owned or hereafler acquired, includmg bul not lImited 10 (i) all pouftry and livestock and their young, products IherEOI and produce Ihereol,
<br />I1i) all ClOpS, whether annual or perenmal. and Ihe producls Ihereol. and (iii) allleed. seed. lertilizer. medicines and olher supplies used or produced by Deb/or in larming operations.
<br />and (IV) allY Clop msurance payments and any governmenl larm support payments. induding any diverSlOn or deliciency paymenis The real estale concerned with Ihe above described
<br />crops groWfflg or to De grown is
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<br />and the name of the record owner '-s
<br />~ The followinggoops or types 01 goods AssigI1.ment_ of Le;g;E!.~gre~Ill_entn datE'!<l1:-1-88_,be.tween Xtl~<L__
<br />Properties Limited Partnership, a Nebraska Limited Part:nershi{>, 1esSOL_Cl.llg~
<br />Merrick Machine Co., A Nebraska Cor{>oration, lessee (see attached)
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<br />(c) ACCOUNTS AND OTHER RIGHTS TO PAYMENT
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<br />o Each and every right 01 Deblor fa the payment 01 money, whelher such nght 10 payment now eXlsls or herealler aflSes. whelher such flgilt 10 payment aflses oul 01 a sale, lease or
<br />othor disposl/loll 01 goods or of her property by Deblor. oul 01 a rendering 01 services by Deblor. out 01 a loan by Debtor. oul 01 Ihe overpaymenl 01 taxes or olher liabililies OIDebIOr.
<br />or o/toemise aflses under any contract or agmement. whether such nghtlo payment is or IS nol already earned by performance, and howsoever such nghtto payment may be evidenced.
<br />logether WIth a/l other fights and inlerests tmcluding all liens and security interests) which Deblor may al any time have by I;r.v or agreement againsl any account debtor or other obligor
<br />obltgated 10 make any such payment or agamsl any 01 the property 01 such account deblor or other obligor. al/ indudlrig wt nol limited 10 al/ presenl and luture debl inslruments,
<br />chattel papers, accounts. loans and obIJgalions lecelVable and tax refunds.
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<br />(d) GENERAL INTANGIBLES
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<br />C All general intangIbles of Debtor. whelher now awned Dr hereafter acquired. inCluding, but no! limited to, applications for patents, patents, copynghts. trademarks. trade secrets, good
<br />will. lradenam&s. customers'lists. permits and francfllses. and the nght to use Debtor's name_
<br />
<br />logether WIth al/ substitutions and replacements lor and pro.jucrs 01 any 01 the loregomg property nnt constituting consumer goods and togelher with proceeds 01 any and all 01 Ihe roregolng property and. in
<br />Ihe case 01 all !angi!J/e Collaleral.togelher WIth all acceSSIOns and. exceplm the case 01 consumer ,;oDds.logelher wilh (I) all accessories, a/lachmenls. parts, equipment and repairs now or hereafler a/lached
<br />or a/fixed to or used in conneclion With afl'j such goods. and (ii) al/ warehouse recelpls. DI/ls 01 lading and other documenls 01 title now or herealler covering such goods
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<br />2, Representations, Warranties and Agreements. Deblor represents. warranls and agrees that:
<br />(a) Debtor IS [] an mdividual. Q!l a paI/nelship. L: a coiporation and. II Deb/or is an individual. the Deblor~ reSIdence IS at the address 01 Deb/or shown allhe /Jegmmng ollhis Agreemenf
<br />(Ii) The Col/aleral will /Je used pflmarily lor ,_~ personal. famlfy or housefJold purposes. [] larmmg operallOns: ~ busmess purposes
<br />(C) ~ 1/ any part or ail 0/ the tang/ble Collateral WIll become so related to particular real estatE as to become a fixture, the real estate concerned is
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<br />and the name o/the record owner IS
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<br />(d) Debtor's chiel execulive olllce IS located al .
<br />or. if leh blank. at Ihe address 01 Debtor shown al the /Jegmnmg 01 thIS Agreemem.
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<br />THIS AGREEMENT CONTAINS ADDITIONAL PROVISIONS SET FORTH ON THE REVERSE SIDE
<br />HEREOF, ALL OF WHICH ARE MADE A PART HEREOF.
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<br />J'lQRW!tST_BANK N...EJtMSM.N_. A._
<br />S,."(;fJred Party ~ Name
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<br />TRIAD PROPERTIES LIMITED PARTNERSHIP, BY
<br />TRIAD n!NVI,':~~ENT~ CORYPfu\,T:I;QN, Gj:J~EML PARTNER
<br />Debtors Name - - -
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