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<br />102405
<br />Horrower(sl who have -cawed this A�.: r e; - rte.,. Pav r.. ' . \ ...
<br />joint and severui I r n :+spry Note evdde n 1 - o "f -en d' l, I
<br />thereof. or..•newet o r s or note••exert ud.u.,. + u, u, f
<br />Ip. la BorruwrrRf do hereby fine and l'r- t to frsa,ind part t I., t : I n I { o Itr t ...d
<br />nn list reverse aide herasrf thereinafter one tine referred eo as l solar. rare . -.it .f -w l,.e .. Ii •.. �... ; .. -anent oa •t U.r.r ..e,.0 i �� �• . d praape rte
<br />BI)It li(IH'F :II F;XpRF ;SSI.1" tV AFi ItA \TS ,INO L O I . INTS:
<br />1. That except for I he• secunn interest granted t i llurrowrr to the extem ci•:,t the.: a t.. , s e but +Lv ('rail a. •.il v ; t a qa n 1 A.", - ,h, 1e
<br />hernia will Ire. the owner n( the Collateral free from any adverse ben. m•rurit a "mterr.t or vnru:nbra,n :. r d that'leornn.••: will Jrfvrd th 1. � Lrrul [, :dl
<br />and demands of all persons at any time Chouung the vacate ur any interest therein.
<br />Mark if applicable L 1. Borrower is a duly olgil ii—i anti exr.liar. corpnraJmr opal"" the law s of the Starr t - - - -
<br />and is duly qualified end in good standing in even• ether state in which it is doing business
<br />Mark if applicable 0 1. The execution, delivery and performance hereof are wit but Borrower's corporate powers, hate la•en duly au0wno,,& are not ,n nor
<br />travention of law or the terms of Borrower's charter. by -laws. or other incorporation papers or of any indenture, agreement or undertaking to which Burrower is a party.
<br />or by which it is bound.
<br />4. That no financing statement covering tbv Call tend or am proceed, thereof w on f I P"t'lo-olfice at t! a t . t. t 1 t of Sao un.i Plot. It.,rn.we' ..it
<br />join with Secured Party in executing one nr more financing statemcill. pursuant to the I i, Lt d rr ( I a r C it. in for u =fact„" to S,ciu•ot i'arty :md
<br />will pay the Cost of filing such financing stlite•menl, this security agreement anti any [ant oo,-on or to rna -Lion o, n, ;,I; put ,ic offices wherever tiling us deem-
<br />ed by Secured Party to be necessary or desirable.
<br />5. To pay all taxes and assessments of every nature %filch nay be levied or assess(d "gains' the ('()flat' rid.
<br />6. Not to permit or allow any adverse lien, security interest or encumbrance whatsoever upon the Collateral and not to permit Lhe same to he attached or replevin-
<br />ed. 7. At its option. Securet Party may discharge taxes, liens or security in -alts or either vneumhranres Lit an.: na• levied or placed on the (', relit real imd may pay
<br />for the repair of any damage or injury and may pay for the voinLenance and preservation of the Collateral. Borrower agrees to ri- ouburse Secured Party on demand file
<br />any payment made or expense incurred by Secured Party pursuant to the foregoing iruthon-tao, Until ueh reimbursement, the amount of any such I,- ,ent. I th im
<br />terest at the maximum rate allowable by law from date of payment until reimbursement, shall he added to the indebtedness owed by Borrower and shall be secured by
<br />this security agreement.
<br />S. That Borrower will at Borrower's own expense forthwith insure the I angihle Collateral in a Conti le insurance cnmpnnv against loss nr damage b: fire. extended
<br />coverage and theft for an amount equal to the value of said Collateral, and keep t he same so insured continuously until the full ,mount of said :ndch ;edneas is paid. with
<br />loss payable to Secured Party as its interest may appear. and (hat Borrower will on demand deliver said policies of insurance or furnish proof of such insurance to payable the
<br />Secured Party. and in case of loss, the Secured Party shall retain from the insurance money an mm- unt "gaol [n the rood butane" of sold indebtedness remmnng unpaid.
<br />whether according to the tenor end effect of any promissory note or notes evidencing such indebtedness the sarur is duo or not. Should the Borrower fail or refuse to
<br />forthwith effect such insurance and deliver the policies or furnish proof of such insurance as aforesaid, or foil W keep the Collateral so insured mntinuousk until the full
<br />amount of said indebtedness is paid. the Secured Para• may. "t its option effect such insurance and the amount so paid for wch insurance with inter -t at the ra.—Mum
<br />rate allowed by law from date of payment until repaid shall be added to said indebtedness. and the same .shall be secured by this security agreement.
<br />9. Borrower will pay said secured Party any and all costs and expenses incurred in recovering possession of the Collateral and incurred in enforemg this st—ray
<br />agreement and the same shall be secured by this security agreement.
<br />10. That Borrower will not use the Collateral in violation of any applicable statutes. regulations or ordinances
<br />UNTIL DEFAULT Borrower may have possession of the Collateral and use it in any' lawful manner not inconsistent with thi+agmmee•nt and not 11-a ntero with any
<br />policy of insurance thereon• and upon default Secured Party shall have the immediate right to the possession of the C'ollater+i.
<br />BORROWER SHALL BE IN DEFAUt:r under this agreement upon the happening of any of the [,)flowing events or conditions
<br />lad default in the payment or performance of any obligation, covenant or liability contained or referred to herein or in any note evidencing the carne;
<br />Ibt any warranty. representation or statement made or furnished to Secured Party 1# or on behalf of harrower proves to have been false in anv material respect
<br />when made or furnished;
<br />Icl any event which results in the acceleration of the maturity of the indebtedness of Borrower to others under any malt nnure. agreerllert or undertaking;
<br />(tit loss. theft. damage, destruction, sale (except t•- authorized in paragruph 9 hereof) ur encumbrance to or of any ad the Collateral, or the making Lit am- Ivry.
<br />seizure or attachment thereof or thereon;
<br />le) or creditors by. or the olmmencem nut of any 1proceeding under arty bankrupts orrinsolvenc} laws by oriagainst Borrower rpor any 1piarodor or sue [y for Bar-
<br />rower.
<br />UPON SUCH DEFAULT and at any time thereafter, or if it deems itself insecure, Secured Party may declare all Obligations secured hereby irumediately due and
<br />payable and shell have the remedies of a secured party under the Nebraska Uniform Commercial Ceale. Secured Party may require Borrower to assemble the Collateral
<br />and deliver or make it available to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both parties Vnless the Collateral is
<br />perishable or threatens to decline speedily in value or is of a type customa gn
<br />rily sold on a recognized market, Secured Party will give Borrower reasonable notice of the
<br />Lime end place of any public sale thereof or the time after which any private sale or any other intended dispncution [hereof is to be made. The reyuin•noents of
<br />of
<br />reasonable notice shall be met if such notice is mailed, postage prepa+d, to the address of Borrower shown at the beginning of this agreement at least five days before the
<br />time of the sale or disposition.
<br />No waiver by Secured Party of any default shall operate as a waiver of any other default or of the same d,biult. nn " future occasion The taking of (his security agl, e
<br />ment shall not waive or impair am' other seuurily said Secured Party' may have or hereafter : c Ioue for the pay of the above mdebteun,"s. nor shell the taking of
<br />any such additional secs ra,, waive or impair this secouy agreement: but said ' e urtd Party may resort to Lilly stcunLr it ma}' drove m the order :l n ay dta•an proper.
<br />and notwithstanding any collateral security. Secured Party shall retain its right of set off against Borrower.
<br />All rights of Secured PalLy shall inure In the benefit of Its successors mod asvgns: and all promises: and duties of Borrower shell bind Ills heirs, executors or ad-
<br />ministrators or his or its s c",ssnrs, or assigns. It there be are Lt.. one Burrower. their liabilities hereunder shall be joint and several.
<br />The Borowerls) charge his or her person and separate estate now owned or hereafter acquired with the payment herd.
<br />Extension of the time of payment of ell ar Part of the amount owing hereon. nr way variation. c—tificauon. ar waiver of any tens oc condiUun hereot et any time or tours
<br />shall not affect the liability of any party hereto o co-riu ker, endorser, kwefun lur, or security hereof. it being the intent of it parties to this Note [hut they shall continue.
<br />jointly and severally. absolutely liable• tar the payment of the ho—al nalebtedness until the so rile• is act wally p:ud in full, i:o.mal((rs. endorsers. gaaramors, surH u•s
<br />and all parties hereto severalty waive notice of acceptance, presentrnrmL fur payment. demand. protest. loin not a of demand, uon-paynnnl, and pretest of this Note.
<br />Secured Party shall have at its option full rights of set oft at any time it shall feel unstcund or upon any (leholit hereunder or upon the occurence of any other event gr,
<br />ing authority for such set off through the operation of the law.
<br />STATE OF NEBRASKA
<br />C(lUN I.\.
<br />On the_ ______ _ _ day of . 19 . to pie, :1 \ow:: I'uhbr, Iao.i naliy cane
<br />.and ackuowlc,igvd the c-1 oLlon of the antv.,mi srcanty ag;avv nenL
<br />on the reverse side hereof. to he
<br />_ vulmuta" curt end lived
<br />\o ;n1v 1'ubirc
<br />My Commission Expires
<br />I• :NUOItSE'dE \'1'
<br />For Value Received the unde—Kr
<br />the reverse side hereof. demand.
<br />d guarantees pavnrnt to till. order of The First Notional Il k - of Grand 1,1.,ad,
<br />preycntrnent for payment protest. notice of pil-Lell and non p:.�ment waited.
<br />rat tite ❑our.,: a - t -, ut, a , n
<br />rem wal or extunun oifhun. cd wuheut ouce o
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<br />'1'tus statement of I" I'll ,a
<br />Asslgtwr al Itecord fie n th :.t
<br />n ad f:uar.ro g is pre—ot -d t. , hbni: II 1 1 - I r t 1 I
<br />the Seen ed Party or \svgme no longer .lam:, n su unto un„a st : .,.• r to .....a,
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<br />Ihr la.r hereof.: ad "slues t. 11-r
<br />Id mg of h: rr o, bronnu:e ..ape,•(
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