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Debtor Warrants arxt't3ovenartts:..(tj,Tteat except far the security interest granted hereby -. ~r is, or to the extant that this agreement - -,
<br />states that the Collaterel is to be squired after the date hereof, will be, the owner of SheCo.-~~-.~r;i free from any adverse lien,security -
<br />interest oc encurnbranca; and that Debtor will defend the Collateral against all claims and d~~:.,-.:nds of all persons at any time claiming
<br />thra same or any interest Uteratn.. (2) That n0 financing statement covering the Collateral or any proceeds"tnerebf is on file in any"public - - ~ -
<br />office and that at ttse`request of Securest Party, Debtor roil I join with Secured Patty in executin¢ bne or-more financng'statemertts purse-
<br />ant to the Nebraska Uniform Commercfat Code in form satisfactory to Secured Party and wi II paythe cost of filing such financing state- - -
<br />2 - mans, this security agreement and any continuation or termination statement, in elf public offices w,.nrever filing is'deemed bytSecured -
<br />_ Party to be~necessary or desirable; and if Ute Collateral is attachad"to real estate prior to the perfection of the security interest grahted. (~
<br />>tereby pr if the Collateral-includes crops or oil, gas or minerals to Ix ezuacted or timber to be cut, Debtor wilt, an dernarxtaf- Secured---.-.+1-- -
<br />Parry, furnfsh Secured Party with a tlisclaimer or disclaimers or subordination agreement signed by off parsons having an interest in-the
<br />- real estate,-discfeiming or subordinating any iniere5t.in the Collaiaral which is prior to the interest of Secured Party. f3).Notao self, _ _
<br />transfer or dispose of the Col lateral, nor take the s~rte or attempt to take the same from the county where kept as above stated, without ~,,,
<br />- -.the prior written coriseht of-the Securetl Party. (4) To pay alt taxes and assessments of every nature which may be levii~tf or ass~ssed~„~
<br />-against the Cofateral._ (5).Not to permit or allow any adverse lien, security interest or encumbrance whatsoever-upon UteC+tlltteral, and _~ _ -.
<br />--not to partnit the same To be attached or ceplevined. (6j That the Collateral is in good condition, and that ha- viiN at'hie~own expanse,
<br />:keep Use same -in good condition and from time to Lima, forthwith, replace and repair all such parts of the Collateral as may be broken, ~ -.
<br />.worn out.or damaged without allowing any I ten to be created upon the Collateral on account of such replacement or repairs, and that the Q.1-
<br />Secured Party may examine and inspect the Collateral at any time, wherever located. (7i That he will at his own expanse keep the Col- Q~ -
<br />- lateral insured in a company satisfactory to Securod Party against loss, as appropriate, by theft, collision,-fire and extended coverage,. '
<br />with foss~payabte tb Secured Party as its interest may appear, and will an dercand deliver said policies at insurance or furnish proof of
<br />such insurance to Secured Party. -t8) At its option Secured Party ms/ procure such insurance, discharge taxes. I tens or security interests -
<br />orotberencumLrances at any time levied or placed on the Coliatacal and may pay for the repair of arty 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" Sect~.i Parry pursuarit to the foregoing authorization. Until 'such reimbursement, the amount of any such payment, with, interest at the
<br />rate ota% per annum from data of payment until reimbursement, steal! be added xo the indebtedness owed by Debtor and shall-be secured
<br />by this.agreemeni. (g) Thax he will not use the Collateral in violation of any applicable statute, regulation or ordinance and if any of the
<br />Collateral is motor vehicles the same will not~be rented, used in rental service nor in any speed or endurance contest. (t0) Debtor will
<br />pay Secured Paay any and all costs and expenses incurred in recovering possession of the Collateral and incurred in enforcing this
<br />security agreement, aid the same shall be secured by this security agreement.
<br />1Mtil Default Debtor may have possession of the Ccliateral and use i; in any ;awful manner not inconsistent with this agreement antl not
<br />inconsistent with any policy of insurance thereon, and upon default Secured Party shall have the immediate right io the possession of
<br />the Collateral.
<br />Debtor Steal! (te in Default under this agreement upon the happening of any of ;he foi lowing events or conditions: it) default in the pay-
<br />ment or performance of any obligation, covenau or :iabifiri contained or referred to herein or in any rote evidencing the same: (2) any
<br />warranty, representation or statement made or furnished to Secured Parry by or on behalf of Debtor proves to have bean fialse in any ma-
<br />Leriai respect when made or furnished; i3) cry event which results in the acceleration of the maturity of the indebtedness of Debtor to
<br />others under any indenture, agreement or undertaking: (k) toss, theft, damage, tlestruction sale or encumbrance to or of any of the Col-
<br />lateral, or the rnakir,g of any levy, seizure or attachment thereof or thereon; (5i death, dissolution, termination of existence, insolvency,
<br />rosiness failure, appoirwnent ~of a~receiver ~of any part of the property of, assignment fcr tna benefit cf creditors by, or the commence-
<br />ment of any praceading under any bankruptcy or insolvency laws by or against Cebtor or any guarantor or surety for Debtor.
<br />Upon Such Default and at any time thereafter, or if it deems itself insecure, Secured Parry may decE are all Obligations secured hereby
<br />immediately due. and payable and. shalt havt3 the remedies of a secured party under the hemaska Urifcnn Comnerciaf Code. Secured
<br />Party shay require Debtor to assemble the Collateral and dotiver or make it available to Socured Party at a place to be designated by
<br />Secures Parry which is reasonably convenient to troth paries. Unless the Collateral is perishable or threatens to decline speedily in
<br />vacua. or is of a .type customarily sold on a recognized market, Secured Parry will give Debtor reasonable notice of the time and place at
<br />any iwblic seta thereof or of the time after which any private sale or any other intended aisposition thereof is to be made. Tha requir
<br />mantS of~reasonabte notico shalt be-met if such notice is mailed, postage prepaid, to the address of Debtor shown at the beginning of
<br />this agreement at least five days before the time of the sale ar disposition.
<br />No waiver by Secured Party of any default shall operate as a waiver of any other default or of the same default on a future occasion.
<br />- The taking of this security agreement shall not waive or impair any other security said Secured Parry may have or hereafter acquire for
<br />the payment of the above indebtedness, nor shall the taking of any such additional sea,rixy waive or impair this security agreement;
<br />but said Secured Party may resort to any security it may have ir. the order it may loam proper, and notwithstanding any collatecai-secu-
<br />riry, Secured Parry. shall retain its righlSOf satoif against Debtor.
<br />"'All: rights of Secured Party hereunder shall inure zo i. ~ bQrtefit of ii5 successors and assigns; and aft promises and duties of Debtor
<br />- °shali bind his Hairs, executors or adminisuators or his w its successors or assigns. If ffiere be more than one Cabtor, their liabilities
<br />- hereunder shat{ be joint and several.
<br />This agreement shalt become effective when it is signed by Debtor.
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