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<br />
<br /> DEBTOR NAME AND ADDRESS SECURED PAR NAME AND AD SS
<br /> MIOLAND'AG SERVICES INC PINNACLE BANK • CENTRAL CITY co
<br /> 1012 S SHADY BEND RD 320 G STREET P.O. BOX 28 O CD
<br /> GRAND ISLAND, NE 68801.8742 CENTRAL CITY, NE 68826
<br /> C)
<br />
<br /> 200903645
<br /> Type: ❑ individual ❑ partnership W corporation ❑
<br /> State of organization/registration (if applicable)
<br /> ❑ If checked, refer to addendum for additional 'Debtors and signatures.:
<br /> COMMERCIAL SECURITY AGREEMENT (AM
<br /> The date of this Commercial Security Agreement (Agreement) is 12.01.2008 a m
<br /> SECURED DEBTS. This Agreement will secure all sums advanced by Secured Party under the terms of this Agreement and the payment and
<br /> performance of the following described Secured Debts that (check one) W Debtor ❑
<br /> I_ (Borrower) owes to Secured Party;
<br /> ❑ Specific Debts. The following debts and all extensions, renewals, refinancings, modifications, and replacements (describe):
<br /> 4
<br />
<br /> W All Debts. All present and future debts, even if this Agreement is not referenced, the debts are also secured by other collateral, or the future
<br /> debt is unrelated to or of a different type than the current debt. Nothing in this Agreement is a comtnittnent to make future loans or advances.
<br /> SECURITY INTEREST. To secure the payment and performance of the Secured Debts, Debtor gives Secured Party a security interest in all of the
<br /> Property described in this Agreement that Debtor owns or has sufficient rights in which to transfer an interest, now or in the future, wherever the
<br /> Property is or will be located, and all proceeds and products of the Property. "Property" includes all parts, accessories, repairs, replacements,
<br /> improvements, and accessions to the Property; any original evidence of title or ownership; and all obligations that support the payment or
<br /> performance of the Property. "Proceeds" includes anything acquired upon the sale, lease, license, exchange, or other disposition of the Property;
<br /> any rights and claims arising from the Property; and any collections and distributions on account of the Property. This Agreement remains in effect
<br /> until terminated in writing, even if the Secured Debts are paid and Secured Party is no longer obligated to advance funds to Debtor or Borrower,
<br /> PROPERTY DESCRIP'T'ION. The Property is described as follows:
<br /> ® Accounts and Other Rights to Payment; All rights to payment, whether or not earned by performance, including, but not limited to, payment
<br /> t
<br /> for property or services sold, leased, rented, licensed, or assigned. This includes any rights and interests (including all liens) which Debtor
<br /> i may have by law or agreement against any account debtor or obligor of Debtor,
<br /> IX Inventory: All inventory held for ultimate sale or lease, or which has been or will be supplied under contracts of service, or which are raw
<br /> materials, work in process, or materials used or consumed in Debtor's business.
<br /> W Equipment: All equipment including, but not limited to, machinery, vehicles, furniture, fixtures, manufacturing equipment, farm machinery.
<br /> and equipment, shop equipment, office and record keeping equipment, parts, and tools. The Property includes any equipment described in a
<br /> list or schedule Debtor gives to Secured Party, but such a list is not necessary to create a valid security interest in all of Debtor's equipment.
<br /> Instruments and Chattel Paper: All instruments, including negotiable instruments and promissory notes and any other writings or records
<br /> ' that evidence the right to payment of a monetary obligation, and tangible and electronic chattel paper.
<br /> ® General. Intangibles: All general intangibles including, but not limited to, tax refunds, patents and applications for patents, copyrights,
<br /> trademarks, trade secrets, goodwill, trade names, customer lists, permits and franchises, payment intangibles, computer programs and all
<br /> supporting information provided in connection with a transaction relating to computer programs, and the right to use Debtor's name.
<br /> Documents: All documents of title including, but not limited to, bills of lading, dock warrants and receipts, and warehouse receipts.
<br /> IX Farm Products and Supplies: All farm products including, but not limited to, all poultry and livestock and their young, along with their
<br /> produce, products, and replacements; all crops, annual or perennial, and all products of the crops; and all feed, seed, fertilizer, medicines, and
<br /> other supplies used or produced in Debtor's farming operations.
<br /> ® Government Payments and Programs: All payments, accounts, general intangibles, and benefits including, but not limited to, payments in
<br /> kind, deficiency payments, letters of entitlement, warehouse receipts, storage payments, emergency assistance and diversion payments,
<br /> production flexibility contracts, and conservation reserve payments under any preexisting, current, or future federal or state government program.
<br /> W Investment Property: All investment property including, but not limited to, certificated securities, uncertificated securities, securities
<br /> entitlements, securities accounts, commodity contracts, cotmnodity accounts, and financial assets.
<br /> I9 Deposit Accounts: All deposit accounts including, but not limited to, demand, One, savings, passbook, and similar accounts.
<br /> 1XI Specitle Property Description: The Property includes, but is not lunited by, the following (if required, provide real estate description):
<br /> ALL WATER AND WATER RIGHTS, WHETHER SURFACE OR UNDERGROUND, TRIBUTARY OR NON-TRIBUTARY, WELLS, WELL PERMITS, DITCHES, DITCH
<br /> RIGHTS, RESERVOIR RIGHTS, STORAGE RIGHTS, AND WATER TAPS APPURTENANT TO AND/OR USED IN CONNECTION WITH THE FOLLOWING DESCRIBED
<br /> REAL PROPERTY, SPECIFICALLY INCLUDING, BUT NOT LIMITED TO THE FOLLOWING WATER RIGHTS AND WATER RIGHT SHARE CERTIFICATES: THE REAL
<br /> PROPERTY IS DESCRIBED IN EXHIBIT A ATTACHED HERETO AND MADE A PART OF THIS SECURITY AGREEMENT.
<br /> USE OF PROPERTY. The Property will be used for ❑ personal IM business ® agricultural ❑ purposes.
<br /> SIGNATURES. Debtor agrees to the terms on pages 1 and 2 of this Agreement and acknowle a eceipt of a copy of this Agreement.
<br /> DEBTOR S D P
<br /> MIDLAND AG SERVICES INC PINNAC ANK RAL CI
<br /> I
<br /> Roger L. Luebbe, Presidp't SCOT
<br /> State of Nebraska RESIDENT
<br /> County of Merrick
<br /> The foregoing instrument was acknowledged before me this 12i -20 o e L. L President ofMidlapd,'Ag Inc.
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<br /> NGRi1tiY00001NlbrtMlgt Ot
<br /> JR. V
<br /> JUUWUVWW4W
<br /> M 02000 Bankers Systems, Inc., St. Clan A61 /page 1 of 2I
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