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85- --004855 SECURITY AGREEMENT Borrower(s) who have executed this Agreement to secure the payment of the Amount Financed, together with the Finance Charge, according to the'[Lrma of a certain joint and several Promissory Note evidencing a loan of even date herewith, made and delivered by Borrowerts) to the Secured Party named herein, and any tlYtension thaeaf or ranewad ttoterl or notes executed and delivered to Secured Party by Burruwertsl evidencing future loans or advances lobe made, at the option of Secured Party, to Borrowerial do hereby give and grant unto the Secured Party, its successors and assigns, a security interest in the goods, chattels, and personal property described on the reverse side hereof thereinafter sometimes referred to as ••Collateral "I, all of which Horrowerfsl warrantlsl to be their exclusive unencumbered property. BORROWER FRPRF.SSLY WARRANTS AND COVENANTS: 1. That except for the security interest granted hereby Borrower is, or to the extent that this agreement states that the Collateral is to be acquired after the date hereof, will be, the owner of the Collateral free from any adverse diem. security interest, or encumbrance; and that Borrower will defend the Collateral against all claims and demands of all persons at any time claiming the same m any interest therein. n Markitapphrande❑ 2. Borrower isa duly organized and existing cerporatirn under the laws oftheS [aloof____.._:_._..__: _ and is duty qualified and in good standing in every other, state in which it is doing business. Mark H applicable D 3. The execution, delivery, and performance hereof are within Horrowei s corporate powers, have been duly authorised, are not in con• travention of law orthe terms of Borrower's charter, by-laws, or other incorporation papers or of any indenture. agreement. or undertaking to which Borrower is a party or by which it is bound. i. That no financing statement covering the Collateral or any proceeds thereof is on file in any public office and that at the request of Secured Party Borrower will join with Secured Party in executing one or more financing statements pursuant to the Nebraska uniform Commercial Code in form satisfactory to Sectored Party and will pay the cast of filing such financing statement, this security ugmement, and any continuation or termination statement in all public offices wherever filing is deem• ed by Sectored party to be necessary or desirable. S. To pay all taxes and assessments of every nature which may lx levied or assessed against. the Collatera G. Not to permit or allow any adverse lien, security interest, or encumbrance whatsoever upon the Collateral and not to permit the came to beattached or replevin. od. i. At its option Secured Partc• nay discharge taxes, liens, security interests, or other enrumbrances at any time levied or placed on the Cellaterat and may pay ter the repair of any damage or injury and may pay for the maintenance and prose r anon of the Collaterai. Borrower agrees to reimburse Secured Party on demand for any payment made orexperae incurred by Secured Party pursuant to the foregoing authorization. Until such reimbursement. the amount of any such payment, with Interest at the maximum rate allowable by law from date of payment until reimbursoment, shalt lu• added to the indebtedness owed by Borrower and shall he secured by this stturity agreement. 9, That Harrower will at Bo—wer's awn expense forthwith insure the tangible Collateral in a reliable insurance company against loss oc damage by fire, extended coverage. and theft for an amount equal to the value of said Collateral and keep the same so insured continuously until the full amount of said indebtedness is paid, with loss payable to Secured Party as its interest may appear: and that Borrower will on demand deliver said policies of insurance or furnish proo(of such insurance to the Secured Party, and in case of loss, the Secured Party .hall retain from the insurance money an amount equal to the total balance of said indebtedness remaining unpaid, whether according to the tenor and effect of any promissory note or notes evidencing such indebtedness the same is due or mt. Should the Borrower fail or refuse to forthwith effect such insurance and deliver the policies or furnish proof of such insurance as aforesaid or fail to keep the Collateral so insured continuously until the full amount of said indebtedness is paid. the Secured Partv cony at its option effect such insuramce and the amount -paid for such insurance with interest at the maximum rate allowed by law from date of payment until repaid .shall be added to M1 i.i mdcbt'rIoc ,. and the -rnr• 4n0 he M by chi, -ow nlrn.,•menr. CF' ls'� i