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~~orr~a~ ~ovos~s ~ I - t1(- 3 5 ~) 8 DEBTOR WARRANTS AND COVENANTS: { 1 } That except for the security interest punted hereby Debtor k, or to the extent that this agreement states that ehe Collateral is to acquired after the date hereof, will be, the owner of the Callateral free stmt aay ade-~ lieut. security itrteressE or encumbrance; and that Debtor will defend t}re Collateral against all claims and demattda of all pets»ns at an time claiming the saute or any interest therein. { ••l1 That no financing statement covering the Collateral or any pro- ceeds thereof is on Fik in any public office and that at the rer{uast of Senued Party. Debtor will jafn with Sectued Party fn executing ate ar more financing s[atements pursuant to the Nebraska L'nifarm Commercial (;otle in form satisfactory Eo Sectued Party and wi11 pay the t~trst of filln~ such financing statement, this seeirrih' agreement and any continuation or termination statement, in ell pttbifc offices wherever filing is deemed by Secured Pam to be nraessary or desirable; and if the Callateral is attached to real estate ptitu to rite perfttKion of the security interest granted hereby or if the Co~laterat includes crops ar nit, gas or minerak to be extracted or Nmber to be cut, lJebtor will, on demand of Secured Party, ftunish Senired Party with a disclaimer ar disclaimers or suborditt- atittrt agreement signed by sit persons having an interest in the real estate, disclaiming or subordinating any interest in the Collateral which is prior to the interest of Secured Party. {3) Not to sell, transfer ar dispose of the Collateral, nor take the saute of at[nmp~t to rake the same from the catmty when kept as above stated, without the prior written consent of the Secured Party, (4) To pay ail tries and :cssessments n( every nature which may be levied nr assessed against the Collateral. {5) Not to permit a alksw any adverse #itrt, sertufty interest or encumbrance, whatsoever upon the Callateral, and not to petvrtit the same W be attachexl or repkvitted. (8) That the Collateral is in goal crrndition, and that }te will at his awn expense, kxp the saute in gaol tstndition and lean time to time, Eorthwtith, replace :md repay all such parts of the Coldatoral as may be broken, worn out or dam aged withatu alkswing any lien to br. created upon the Collateral on acrntmt of such replacement or re airs, and the[ the Secured Patty may ratamine acrd ins(sec4 the Collateral at env time., wherever lasted. (~ } That he will at his own expense keep flee Wli-ateral insttie~in a rrompanviah5[aaxary m xrsuecs tarry agauur loss, as apprvp+ate, vy ~necr, cvursron, r~'e-3,c~rs~Sd- ooverage, with lass gayabte to Secured Party as +ts interest may appear, :md wsll rm demand deliver said policies of insurance or furnish proof of such instuance to Smtred Party. (8} At its option Sect:red Party mny Prcxure such insurance, discharge ta:m, liem r>r security intexsts or cxher encrimbranres at nny time levied or pLrced an the Collateral and may pay for the repair of any damage or itrlurY to or Iw the preservation and maintenance of the Collateral. I?ebtnr agrees to reimburse Secured Parry on demand for any payment rr expense +nctrzred by Secured Party p~rnrant zo the fare KOing auihantation. tintil such reimbursement, the amount ~ any such payment, with interest at the rate of `~ per :mntutt from date of payment until reimbursement, shall be added to the fndebtrslness owed by I]ebtor and shall be secured by this agreement. i y i That he will Hoe use fhe Collateral in violation of arty app}icable statute, reguhticut or ordinance and if any erf the Collateral is motor vehicles the soma will not be rented, used in rental service rear in any space! or endtuarun contest. { 10} Debtor w-rll pay Sec.ued Party any and all costs acrd a pe ittemced in tecavering prtssessi~ of the Ccellateral and incurred in enfamrng this security agreement, and the same sbaIlxbe~iectsed by this saetuity agreement. UNTIL DEFAULT Debtor may have possession of the Collateral and nx it in any lawful manner not incatsistent with this agreetrtenY azed trot mcvrraistunt wtth any Ixsiicy of insurance thereon, and upon default Secturcl Party shall have the immediate tight to tht possession of the (:ollateral. DEBTOA SHALL ItE IN DEFAULT under this agreement i;pon the happpeening of any of the following events or condit3am: {I} default in the payment of pcrfarinatrrx of any ablsgation, covenant c.r leahilikv tontamecl ar referred to herein or in any Hate evidtntcvrrg the same: i2.` aay warranty, representation nr szatenient made or lurnnhed to Secured Party by or on behalf of Debtor proves to have been false in any rnatrnai rospect .vhen rmtde or funirshed; : 3) any eyelet which results in the accekratiott of the maituiN of the indebiedss+ae cf I3c}xar to :ethers under asry ittdentrsre, agrrernrut nr undertaking: !4) bss. theft, damage, destntction, sale ar enctunbrancc to ar of any of the Collateral, ar the rnakiny: of any levy, .esture ur attachment thereof or thtse- as; i5} death, dissalutron, tertnmahon of exestence, utsafvency, bussness failure, appaintmetrt of a receiver of any part of the ape[ of, assignment for the benefit of creditara by, ar the cammencrtnent of :u,v pn,creding ender any bankruptcy or insolvettey al ws by•or agau;st I?ebtar or :rny gtwrar:tor or stnety for 13ebtor. UPON SUCH DEFAULT and at any time thereafter, ar if ,t deems ttsrlf in.r:ure, Secured Party may declare •rll Oblig- ations secutecl hereby inurredfateiy due and payab~ acrd shall }uvr Lhr rrrr,ediea of a savored party under the Nebraska Uniform Cammeuetial Coda. Stcnued Party may reywre Debtor to assent trk the (:nllateral and deliver or make d available to Secured Party at a pLu~e to be desrgnazed by Secuued Parry which is reasorurbly ctxrveenent to both parties t'niess the (:allateral is perishabb o[ threatens to dec}itse s 1}' in value er +s of :r type c,rstnrrtarily auki un a retvga,acd urarket, Secw'ed Party will give Llebtm i•ezsorrabk notice oft -time a»d place of ;u,y pnhlic salt' thexeof or of the tune after whtc6 soy private sale or any otfrer intenried dispasitum therof is to he made. The reyuuernents tr{ reasanabk notice sfmlt be met rf nrch nutter is marled, postage prepaid, to the address of Debtor shown at the beYttnnmg of thu agreetnrnt at least five days frefore the time of the sale or riisposition. 14o waiver by Securrxl Party cd any default shall operate as a wnivrr of any ether default ar of the same deiattlt nn a future tstexrian. The taking of this seetrnty agra~menl shall cwt waive ar tmpair any other security said Secured Party may have ar htre- affer augtrite for the paynseirt of the above irrdebteclarss, nor shall the takfreg uI any such additional security waive or impale this aeettriiy a{reement; but uid Secured Party pray resort to auy security it ntay leave nt the order rt may deem proper, sad nutwltlt- starx3icg any colhtera3 srottuity, Searrtd Party shall retain its rights of setoff against llebtor. All rights of Sauced Party hereusxler shall snore to the benefit of its suaessars and assigns; seed aII premises and dutlea of Debtor shalt bleed his heirs, excxutrrrs ur udrwnsuaton or his ar its suxessors or assigns. tf them he «sora than ntse Debtor, their liabititiet herewadet shag be faint and sr.rral. Tltia agreemeat shall becwrtc eftettivr when it is signed by Debtor. =L,i y'.