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r 7-�- 104992
<br />f�fklitionttl Provi�ion�
<br />DaMar Werfaxus and Covenants; (1) Thdt except for the security interest granted hetatry Debtor is, or to the extent that this agreement
<br />atat that' t a is to be acquired after the date hereof,wiII be, tire owner of the Collateral free front any adverse IWrt, security
<br />interest or on anise; and that Debtor will dafetxl the Collateral against all claims and devnands of all persons at any tinto claiming
<br />Nta sae or any interest therein. i21 That no financing statement covering the Collateral or any proceeds thereof is on file in any public
<br />office and that at the request of Secured'Party. Debtor will join with Secured Party in executing one or more financing statements pursu-
<br />ant to the Nebraska Uniform Commercial Codo in form satisfactory to Secured Party and will pay the cost of filing such financing state-
<br />ment, this security agreement and any continuation or termination statement, in all public offices wherever filing is deemed by Secured
<br />Party to be necessary or desirable; and if the Collateral is attached to real estate prior to the perfection of the security Interest granted
<br />hereby or if the Collateral includes crops or oil, gas or minerals to be extracted or timber to be cut. Debtor will, on demand of Secured
<br />Party, furnish Secured Party with a disclaimer or disclaimers or subordination agreament signed by all persons having an interest in the
<br />real estate, disclaiming of subordinating any interest in the Collateral which is prior to the interest of Secured Party. (3) Not to sell,
<br />transfer or dispose of the Collateral, nor take ;`..-.. ::ame or attempt to take the same from the county where kept as above stated, without
<br />the prior written consent of the Secured Party. (4) To pay all taxes and assessments of every nature which may be levied or assessed
<br />against the Collateral. (5) Not to permit or allow any adverse lien, security interest or encumbrance whatsoever upon the Collateral, and
<br />not to permit the same to be attached or replavined, (G) That the Collateral is in good condition, and that Ile will at his own expense,
<br />keep the same in good ccufition and from time to time, forthwith, replace and repair all such parts of rite Collateral as may be broken,
<br />worn out or damaged without allowing any f tell to be created upon the Collateral on account of such replacement or repairs, and that the
<br />Secured Party may examine aril inspect the Collateral at any time, wherever located. 17) That fie will at his own expense keep the COI -
<br />lateral insured in a company satisfactory to Secured Party against loss, as appropriate, by theft, collision, lire and extended coverage,
<br />with loss payable to Secured Party as its Interest may appear, and will on demand deliver said policies of insurance or furnish proof of
<br />such insurance to Secured Party. IB) At its optiOn Secured Party may procure such insurance, discharge taxes, liens or security interests
<br />or other encumbrances at anv Line levied or placind on the Collateral and may pay for the repair of any damage or injury to or for the
<br />preservation and maintenance of the Collateral. Debtor agrees to reimburse Secured Party on demand for any payment or expense incurred
<br />by Secured Party pursuant to the foregoing authorization. Until such reimbursenent, the ari ount of any such payment, with interest at the
<br />rate of 18 % per annum from date of payment until reimbursement, shall be added to the indebtedness owed by Debtorand shall
<br />be secured by this agreement. (9) That he will not use the Collateral in violation of any applicable statute, regulation or ordinance and if
<br />any of the Collateral is motor vehicles the same will not be rented, used in rental service nor in any speed or endurance contest. (10)
<br />Debtor will pay Secured Party any and all costs and expenses incurred in recovering possession of the Collateral and incurred in enforcing
<br />this security agreement, and the same shall be secured by this security agreement
<br />Until Default Debtor n..y have possession of the Collateral and use it in any lawful irnalo), not Inconsistent with this agreement and not
<br />inconsistent with ,ally linl::.y :11` thereon, and nron default Secured Parry shall have the immodiate right to the possession of
<br />the Coliateral.
<br />Debtor Shalt Be in Default under drs agreement upon the happening of any of the following events or conditions: (1) default in the pay-
<br />ment or perionnance of any utahgatlon, c —nani or liability contained or refereed to herein or in any note evidencing the sane: 12) any
<br />warranty, representation or statement made or furnished to Secured Party by of on b hall of Debtor proves to have been false in any nva-
<br />torial respect wham made or furnished; (3) any event which results in the acceleration of the maturity of the indebtedness of Debtor to
<br />others under rny indenture. agreement '.x undertakn:g; 141 loss, then, damage, destruction sale or encumbrance to or of any of the Col-
<br />lateral, m the meaking of any levy, seizure or attachment thereof or thercvon; (5) death, dissohnion, termination of existence, insolvency,
<br />business failure, appointment of a receiver of any part of the pruporly of, assignment for the b onefit of couditurs by, or the commence -
<br />ment of any proceeding under any bankruptcy or insolvency laws by or against Debtor or any guarantor or surety for Debtor.
<br />Upon Stich Default and at any time thereafter, or it it ocrerns itselt insecure, Securr.Ki Party may declare all Obligations secured hereby
<br />immediately due and payable and shall have the remedies of a securfxf party under the Nebraska Uniform C minercial Code. Secured
<br />Party may require Debtor to assdNable the Collateral and deliver or maike it available to Secured Party at a place to be designated by
<br />Secured Party which is reasonably catvenient to both parties. Undo :s the Collateral is perishable or threatens to decline speedily in
<br />value or is of a type custornardy sold on a recognized market, Secured Party wall give Debtor reasonable notice of the time and place of
<br />any pxiblic sale tbaioe(�f or of the time after which any private sale of any other untended disposition thereof is to be made. The require-
<br />ments of reasonable notice shall be mel if such notice is mailed, postd9c, pr.:lia:d, to the address of Debtor shown at the beginning of
<br />this agreen ew at least five days before the time of time sale or disposii :on.
<br />No waiver by Secured Party of any default srrslI ciperate as a waiver of any other default or of the sane default on a future occasion.
<br />The taking of this security agreement snail not waive Or i,,Wait any other security said Secured Party may have or hereafter acquire for
<br />the 1)ayndent :J the atxwe indebtedness, :nor shall the saki 119 of any such addition, security waive or impair this Security agreement;
<br />clot sa,ld $owned Party may resort to any secw,ty 't may have in the :odes it may deem proper, and notwithstanding any collateral secu-
<br />rty, Secured Party shall retain its rights of setoff against Debtor.
<br />All rights of SOI ored Patty f>t,reu:aier shall inure to ttxr henefn et its successors and assigns; and all promises and duties of Debtor
<br />shall bin;, his heirs, executors or actministratofs or his or its sue cessr. :rs or assigns. If there be more than one Debtor, their liabilities
<br />tiermi,,ader '.s,h aii are joint and several.
<br />This ag,exonent shall became e}iect :vo Allen it is signed by Debtor.
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