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<br />84- 005448
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<br />MORTGAGE AND CONSTRUCTION SECURITY AGREEMENT
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<br />THIS MORTGAGE AND CONSTRUCTION
<br />"Mortgage"), dated
<br />HALL, NEBRASKA (the
<br />SIOUX CITY, N .A. ,
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<br />WHEREAS, the Issuer is a duly organized and existing county
<br />and a political subdivision under the laws of the State of
<br />Nebraska: and
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<br />WHEREAS, the Issuer is authorized by the Act (hereinafter
<br />defined) to issue and sell its industrial development. revenue
<br />bonds for the purpose of providing money to acquire, whether by
<br />purchase, lease or otherwise, land, buildings or other
<br />improvements and all real and personal property deemed necessary
<br />in connection therewith, whicr are suitable for use for
<br />manufacturing or industrial ent"'T.; 1.ses: an":
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<br />WHEREAS, pursuant to the terms of Bond Resolution No.
<br />adopted by the Board of Supervisors of the Issuer on October~
<br />1984, the Issuer has issued a series of its industrial
<br />development revenue bonds consisting of a single bond, designated
<br />"County of Hall, Nebraska, Industrial Developm<!;nt Revenue BOnd
<br />(Wilbeth, Inc. Project), Series 1984," dated October 1, 1984, in
<br />the original principal amount of $300,000 (the "Bond"): and
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<br />WHEREAS, the proceeds from the sale of the Bond are to be
<br />used by the Issuer for the purpose of providing funds to finance
<br />the cost of acquiring a facility, including land and
<br />improvements, sui table for use for manufacturing or industrial
<br />enterprises located in Hall County, Nebraska, and paying certain
<br />expenses incident thereto, which facility has been leased to
<br />Wilbeth, Inc. (the "Company"), an Iowa corporation, under and
<br />pursuant to the Lease (hereinafter defined): and
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<br />WHEREAS, the Bondholder has agreed to purchase the Bond, and
<br />has required, as a condition for its purchase of the Bond, that
<br />the Issuer secure the Bond by this Mortgage,
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<br />NOW, THEREFORE, the Issuer, for the purpose of securing the
<br />payment of the principal of, premi~~, if any, and interest on the
<br />Bond and all amounts now owed and hereafter owing under the Bond
<br />ac~ording to its tenor and effect and under this Mortgage,
<br />including, but not limited to, any advances made by the
<br />Bondholder pursuant to this Mortgage, and the faithful
<br />performance and observance by the Issuer of all the covenants,
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