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SECURITY AGREEMENT 87- a fO11948
<br />Date 1987
<br />Debtor Secured
<br />EDWARD L. AND SANDRA P. BELGRADE Party FirsTier Bank, National Association
<br />Business
<br />or a 1015 South 78th Street
<br />Address 17th and Farnam Streets
<br />Address
<br />Odaaha, Ne 68114 City'
<br />CRY. & State & Omaha, Nebraska 68102
<br />Zip Code Zip Code
<br />1. Meaning of Terms Used Herein:
<br />a)' Account "or " Accounts" meanseachandeveryrightofDetriortothe payment ofmorey,whethersuchrfgh' to ymentarisesoulotasale,
<br />leek d+spositiort of goods or property by D�tor, out of a rerMenng of services by Debtor, out of a loan by Debtor, out tithe ovarpeymentd taxes or
<br />ttfe l' .f Dsbr, w dherwise arisktg antler ally ctmtact or agreement, whadter such rigtttto payyment is or is rhotalready earned performance, and
<br />howtoever such to payment may be evidenced, together with alt other r�u'gghts and interests (including all liens and Security interests which Debtor may
<br />at any trrhe have by law agreement agatnst any account debtor or other obtigor obligated to make such payment or against any d the property such
<br />account debtor or obl mtludahg but rxX limited to alt instuments, chatbl paper, accounts and contact nghp;
<br />tarnished (bu der cmttac>s � ryala or used w c�su m in oiniished goods and other tangible property held for sale or lease or furnished or to be
<br />(c) "Debtor" Includes all individuals, trusts, corporations or other legal entities executing this Agreement as parties hereto, and all members of a
<br />partnership; eah individual and partner shell be jointly and severalfv liable hereunder.
<br />(d) "Obligation" or "Obligations" means each and every debt, liability and ohlioation of every type and decription which may be owed to Secured
<br />Party now or any time hereafter (whether such de K liability oroblgatfonnowexistsoris' 6reafter created or incurred, and whether it isor may be direct, or
<br />indirect, due, or to become due, or contingent, primary � secondary, liquidated or unliquidated, or joint, several, or joint and several).
<br />(a) "Account Debtor" includes the buyer of goods from Debtor, the customer for whom services has been rendered or materials famished by
<br />Debtor the patty wish whom Debtor has contacted, or any other party obligated to make any payment to Debtor under an Account.
<br />2. Security interest and C011ater8l. To secure the payment and performance of the Obligations of Debtor and
<br />Debtor hereby grants Secured Party a security interest (herein called the "Security Interest ") in the following property (herein called the "Collateral') (check
<br />applicable boxes mid complete information):
<br />(ai INVENTORY'
<br />C An inventory of Debtor, whether now owned or hereafter acquired and wherever located;
<br />C Those itarns of Inventory of Debtor enumerated in the schedules attached hereto, and such additional items of inventory of Debtor as
<br />enumeresed aft Subsequent schedules provided by Debtor to secured Party.
<br />(bi EOLAPMENT, FIXTURES, FARM PRODUCTS AND CONSUMER GOODS
<br />SAN equvmentof Debtor, whethurnowownedorhereafteracquiredandwhereverlocated, includingbutnotlimitedto :(describeequipmentby
<br />of ) TTr 1rn'ipU blit not I imitod to all lmi rr , fi=rre8g( tipmtr, m hin=, rarand agnpral
<br />intang;raes tr -ar&A on nr utwd in rho ns+e=irn of the Pmj,,tilocatgd at 2121 hbEth Webb Rd. -. Grarhd island; Nebraska,
<br />- - -- w -rn •red m-0 ackl ti nr r larnmmrs tharnnf
<br />{�'rnpr rrojr ,.
<br />Q AN fixtures of Dew, whetter now owned or hereafter acquired and wherever located.
<br />• The leal estate concerned is:
<br />See Attached Exhibit "A" incorporated herein by this reference
<br />and the name of the record owner(s) is: ward L Belgrade and Sandra P Belgrade Husband and wife
<br />u All farm products of Debtor, whether now owned or hereafter acquired, and wherever located, including but not limited to fi) all poultry and
<br />livestock and their young, products thereof and produce thereof; (ii) all crops, whether annual or perennial, and the products thereof, (iii) all feed, seed,
<br />fertilizer, madicines and other supplies used or produced by Debtor in farming operations: (iv) all hedging and commodity accounts or agreements, now or
<br />w8h 011 riffs m and to such accounts or agreements and all payments due or to become due therevin&r,, (v) all crops or products thereof
<br />received or to tee by Dobtw as Payment -in -Kind (PIK) from the Commodity Credit Corporation (CCC), under any and all contracts of every
<br />dac now or between Debtor and the CCC, together with all rights in and to such contracts; (vu) all rights of Deter, now or hereafter.
<br />ircluitirg aH payments and allowances of every description, now due or to become due to Debtor, under farm programs administered by tee Agricultural
<br />Stabilization and C4riservatiorn Service, and all other rights under contracts or agreements, now or hereafter, with the Federal government, any State or
<br />or army agency, subdivision, or instrumentality thereof with respect to farm products, the farming operations or other business or Debtor, or
<br />any paymerft. allowances, or rights with respect thereto; and (vii) all accounts resulting from the sale or other disposition of any the foregoing.
<br />LOCATION(S)
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