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<br /> . � , • 2--._1U209'7 �.a==—=__
<br /> � - --�-��- -- SECUI�ITY AGREEMENT --�—
<br /> , „ pate � March 16 ,19 9� -----
<br /> ���.. -_ ---
<br /> ' . .;_ .,�
<br /> � . . � SBCIKBd �' ..R[F'':
<br /> �--.
<br /> �� � Party Firs?ier Bank,Nadonal Aesociatbn �—_— •�y
<br /> �- • auainess world investments, inc. _.
<br /> ; ' — ��—
<br /> � ' BG81f1888 —.�` �
<br /> . I a �.:�-'°_�.-�-----_�-
<br /> �. ��� Addreas 171h end Farnam Streets -��.,.-- ---
<br /> . Add�688 818 West 3rd _ '==��_--
<br /> , ,. Cfly City, ;1ri•- _,,,,,o,,..
<br /> , .,. �.�n.�----
<br /> ' 3tate 8 State& Omaha.Nebraska 89102 •�,�,�,-�.��_.-
<br /> ' ZipCOde Grand Island, N� 68801 Zip COde :�r�`��yFT�=�_�
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<br /> ' , • ''i;',°L`-�iCi.4T�u4_',.i.'r':�
<br /> 1. Me�ning of Terms Uesd Herein: , � , � " ',s"�;'�
<br /> `�^'�:�i��d�i:�'�-'.
<br /> • �)'Accounl"or"Accounis"meanaeachandevery riphtdOebtortothepaymentoimoney.whelhersuchrighllopaymeMensesoulofasale. ., ,.• --• .
<br /> ' Ieaeea�rdlapoaNionolgoodsaproperryby0ebtor,oulolerenderingofserviceabyDebtor,outolaloanby0ebtor,outollheoverpaymentattaxesar � �t,�y.Wr,�;=
<br /> , � � tholl�hilftbidDebtor.oralherw�sean8ingurMereny coMrectoragreemeM,whethersuchughltopaymentisorl9notalreadyeamedby peAamance.end _
<br /> hpweoeverauchdplqbpaymenimay beevidenced.togetherwRhallotherrigMsandinterestslmoludingallAensandsecuMymtereqs{which0ebtam8y ,'���--_•.-,.
<br /> at airy tlme have by law aagreemeM agalnal any eeeount debbr or Wlier obligor abAgated to make such paymenl or ayaf�l any olthe propeAY of w�h � . .. ..
<br /> . aCCauq dahbr or oLlipor;Includutp but nollimited b eN h�ahumenls,chaMl paper.eccouNS�nd caMrao�riphts: ' -�'�-�,�,ss-.+�
<br /> @)"inventory..means all raw materlals,wortc In Process.timslied goods mKf o�lier tanpible poperly he�d fa eaW o►la�w fumisl�ed a b be i ' . ���K�!!i�'-
<br /> fWf1llhYd 1YId8f COAtfi1C18 0186rvIGB Of U86d Or C011tUTB0 ifl DBbtOt'8 bWiI168S. ' � '
<br /> , ��
<br /> (c►"Debtor"includes all individuala.lrusb,cal�ations orother IegeI enimas e�ecutlnp tnls Agreemem as peAies horeto.and ell members W a + + �i�-^'�
<br /> , � paNwnhfp;oach indivkluAl imd partner ehall be�oiMly and saverally liede fiereualar. � •:,,,"�
<br /> �.:m
<br /> .`, ,, , �d�"ObIlgaUan"or"Obligahona"meanseachandeverydebt,li�b�NryendobligelonofeveryrypeenddecnP►Ionwhfchmeybeowedb3ecured , �;; :'
<br /> Parlynoworenydme hereafler(whelhersuch debt.MebtlAyor obl�gation now exlsts ais hereafler created alncurred.and whether 81s ormaybedirect,or :�
<br /> indk�Cl,dw,pr lo pocqna due,absoiute or eondnpent.pimary o►secondary.Ipudated a uMiquldated.or�oint,severol.a pint and seve►aq. . ' . .
<br /> ', r 1e)'Aceoum Oebtot"Includes the buyer oi goods hom Debtcu,lhe custamer 1a whom servicas hes been randered or materlals lum�shed by � < �,
<br /> .� Debtor the paAy with wham OeWor has contracted.a any Mhw paity odqated lo make any payment to Oeblor under an Account. •�
<br /> �. Secu�ity Interest and Colleterel.To secure N�e payment and performence of the Oblipatlons of Debtor and � � .
<br /> :�°
<br /> .. 1.�i„- _ �
<br /> pep�prherebygrAntsSecuredParryasecuritymterest�heremcalle0me°SecumyNNOrestlminefoiww�ngp�operiyihenaincel�e�lli�i"Collaterrf'ifct's�k � , , ;:,_;�,"�
<br /> , appNOable boxea and complete iMormatlon►: � ,.
<br /> �a)INVENTQRY: �
<br /> • 0 All InvenWry ot Debta.whether now owned or Iwreafler acqwred and wherever lorated: � '
<br /> O Those ilems of Inventory of Debtor enumerated�n the schedutes allached hereto,and such addAbnal items of inveMOry of Debtor as j,�'• ,
<br /> enumarated fn wibcequeM schedutes provided by Debtor to sec ured Parry.
<br /> (b►EQUIPMENT,FIXTURES.FARM PRODUCTS AND CONSUMER GOODS
<br /> pAII iquiprtwMd Dobtor,whethernowownedor twreatter aeqwred endwherever locaterf.tncludlnybul notllmdedto:(descrlbeeqwpment by
<br /> ttertro o1 types) . .-
<br /> 7{$All tlxtures al Debta,whether now owned a hereafter ecqured and wherever tocated. , .
<br /> Ths n�l estate coneemed�s� �
<br /> .� 1 ,� Lot One (1) Jensen Subdivision. in th� Citv of Grand Island Hall Countv Nebraska
<br /> i •i,:' ,.
<br /> and pq n�1mp d Ihe racord ownerls►is:
<br /> ❑All ferm produCls ol Deblor,whelher now owned o►hereafler acqwred,and wherever Iceated,meludin but not Ilmited to II allpouIt and
<br /> � Ovesmck and thelr young.produCts lhereof end protlute thereof:(ii�all crops,whether annual or perenrnal.antl the9p roducffi thereot 1���18II leedryseod.
<br /> S >i fertlllter.medlclnesendothersuppNesusedorproduceeby0ebtorafarmingoperaUOnsl�v�allhedgmgandcommod�baccountsorapreemeda.nowor
<br /> •, Z. ' hereetter.togetherwAhBllry�htsinendtosuchaccountsaagreementsardaTlpaymentsdueortobecomeduethereunder,�v�allcropsorproductsMereot
<br /> reCehred w io be recelvedby Debtor as Payment•�n-Kmd PIK)hom Ihe Commod�ty Credd Corporation ICCC►,untler any and all conhacb of every
<br /> : � � descript,on.now or herealler,between Debtor ar+d Ihe CC�.together wAh ali nghts�n and tu such contracls.�v��ali nghta ot OeDtor,now or hereaRer,
<br /> � � includfng all paymenta and albwances o1 every descnqion,now due or to become duo to Debtor,under term programs admmislered by the Agncullure�
<br /> , .' � SteblNtetion and Conservahon Service,e�tl e�l other t�ghts under contratts a egreemeMS.now o�hereaMer.with Iha Federel 9over�ment,an Slele or
<br /> IOC91gOV6mT8M.Or8nyBgBncy.subdrv�3i0n.orin5lrumenldlAythereotwth respecltOfarmprOductS.thetarmingoperaUOh30rotherbuSinBSSW�eb10r.Or
<br /> � any pvymenls,dlowencea or nghls wqh respect thereto:and I���1 an accounls resultmg Irom Ihe sale or other tlisposmon ot any Ine faegoMg.
<br /> „ LOCATION(SI
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