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~~._,_ u~589"~ the same frcxn the county where kept as above stated, without the prior written consent of the Secured Party. (4) To pay all taxes and assessments of every nature which may be levied or assessed against the collateral. (5) Not to permit or allow any adverse lien, security interest or encumbrance whatsoever upon the collateral, and not to permit the same to be attached or replevined. (6) That the Collateral is in good condition, and that it will at its own expense, keep the same in good condition and from time to tiiae, forthwith, replace and repair all such parts of the collateral as may be broken, worn out or damaged without allowing any lien to be created upon the collateral on account of such re~.lacement or repairs, and that the Secured Party may examine and inspect the collateral at any time, wherever located. (7) That it will at its own expense keep the collateral insured in a company satisfactory to Secured Party against loss, appropriate, by theft, collision, fire and extended coverage, with loss payable to Secured Party as its interest may appear, and will on demand deliver said policies of insurance or furnish proof of such insurance to Secured Party. (8) At its option, Secured Party may procure such insurance, discharge taxes, liens or security interests or other encumbrances at any time levied or placed on the collateral and may pay for the repair of any damage or injury to or fur the preservation and maintenance of the collateral. Debtor agrees to reimburse Secured Party on demand for any payment or expense incurred by Secured Party gursuant to the foregoing authorization. Until such reimbursement, the amount of any such payment, with interest at the rate of seventeen percent (178) per annum from date of payment until reimbursement, shall be added to the indebtedness owed by Debtor and shall be secured by this Agreement. (9) That it will not use the collateral in violation of any applicable statute, regulation or ordinance and if any of the collateral is motor vehicles the same will not be rented, used in rental service nor in any speed or endurance contest. (10) Debtor will pay Secured Party any and all costs and expenses incurred in recovering possession of the collateral and incurred in enforcing this Security Agreement, and the same shall be secured by this Security Agreement. UNTIL DEFAULT Debtor may have possession of the collateral and use it in any lawful manner not inconsistent with this Agreement and not inconsistent with any policy of insurance thereon, and upon default Secured Party shall have the immediate right to the possession of the collateral, DEBTOR SHALL BE IN BEFAULT under this Agreement upon the happening csf any of the following events or conditions: ti) default in the payment of performance of any obligation, covenant or liability contained or referred to herein or in any note evidencing the same; (2) any warranty, representation or statement made or furnished to Secured Party by or on behalf of Debtor groves to have been false in any material respect when made or furnished; (~) any event which results in the acceleration of the maturity of the indebtedness of Debtor to others under any indenture, agreement or undertaking= (4) loss, theft, damage, destruction sale or encumbrance to or of any of the collateral, or the making of any levy, seizure or attachment thereof or thereon; (5) death, dissolution, termination of existence, insolvency, business failure, appointment of a receivez of any part of the groperty of, assignment £ar the benefit of creditors by, or the commencem®nt of any groceeding undez any bankruptcy or insolvency laws by or against Debtor ar any guarantor oz surety for Debtor. UPON SUCH DEFAULT and at any time thereafter, or if it deems itself insecure, Secured Party may declare all obligations secured hereby immediately due and gayable and shall have the remedies of a secured party under the Nebraska Uniform Commercial Code or foreclosure proceedings as the case may be. Secured Party may require Debtor to assemble the collateral and deliver or make it available to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both parties. Unless the collateral ie perishable or threatens to decline _2_