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<br /> Addi¢ional P7ovisions �
<br /> Debta Warranta and Covenanta: (1) Thnt except for the security interest 0ranted hereby Debtor is,or to the extent that thid agreement ,
<br /> states thAt the Col lateral is to be acquired after tha date hereof,wi II be,tlte owner of theColletoral freo irom any sdverse I ien, security
<br /> . •� � intere&jt�T�H[� m ce; and that Debtor will defend the Collatoral against all claims and demanda of alI persons at any tlme clalming
<br /> ' the sa�fe�{�►�cj��l�st the�cel.g. l21 That no financing statementcovering the Collaterol or any procaeds thereof is on iile in eny public ,
<br /> office and that at the request of Secured'Party, Debtorwill join with Securod Perty in executing one or more flnancing statements pursu• . .
<br /> ant to the Nebraska Uniform Commarcial Cade in form satisfactory to Secured Party and will pey the cost of fll(ng such tinencfng stete- . _
<br /> ment,this security agreement and any continuation ov termination statement, in all public oftfces wherever flling is doomad by Sncured
<br /> Porty to be necessary or desirable;and It tha Coliatorol i&attaChed to real estate prlor to the perfectfon of the Security Interest grontod {ir-
<br /> hereby or if the Collatoral includes crops or oil,gas or minerale to be exttacted or timber to be cut,Debtor wlll,on demand of Securad � �:.-:-
<br /> � . Party,fumish Secured Party with a disclalmer or disclalmera or eubordination agreement signed by all persons hnvin�an interes.t in tho '�::-.-__—
<br /> ' real estate,dicclafming or subordlnating any Interest in the Colleterel whlch is prior to the interest ot Secured Forry. 13) Not to aell, � �rwti�i?!`,--
<br /> � traneter or dispose of the Coll�teral,nor take tho eamo or attempt to take the same(rom the county whero kapt As above stated. witfiout _�_,
<br /> � , the prlor written consent ot the Secured Party. (al To pay ell taxas and essessments of every nature which may be levled ar astessed
<br /> � egnlnat the CollateraL �6)Not to permit or nllow any odverse 1 ian,security Intarest or encunbrnnce whatsoever upon the Colleterel,end -___
<br /> not to pertnit the eame to be attached or replevined, (A�Thot the Colleterel Is In good conditlon. ond thet he wlll at hle own expense, ".W=�
<br /> � keep tho aeme In good condition and from time to time,forthwith,roplace and repafr all euch parte of the Col leteral os may be broken, • _��_
<br /> " • worn out or domeped without al lowln{� an��I len to bo created upon the Colleternl on account of euch replsmxrient or repahs, and thet the .;,w._��
<br /> ' SBCUred Party may examine and inspact tha Colloterol ot e�y time, wherever tocated. (7)That he wlll et his own axpenRe keep the Col- '�•n"-•
<br /> leterel ineured in o company sotisfactory to Secured Party agei�st losn, as appropriate,by theft.colllelon,flre end extended coverage, __.
<br /> ..� with loss payabte to Secured Party es its intorast m8y eppeor, and wlll on demand dellvar sald polfcies of Insuranco or fvmish prooi oi _ -_.
<br /> Buch insurence to Secured Party. IBIAt its option Secured Party may procure such insurance,discherge taxes,Ilens or security interests
<br /> or othe►encumbrances at eny tlme levied or placed on the Collateral and may pay for the repair of any damage o► injury to o►for the
<br /> preservation and maintenance of the Colla¢eral.Debtor agreea to reimburse SecuredPartyon demand for any paymant or expense incurced `_ _
<br /> ' by Secured Part�pursuant to the foregoing outhorizatfon.Untfl suct�reimbursoment,the amount o4 any such paymant.wlth interest at the
<br /> •� rete of 16.00 %per annum from date of paymentuntil reirnburaement,shall be added to the Indebtednea owed byDebtorand�hell
<br /> be secured by this agreement. (9)7hat he will not use the Colleterel In violation of eny appllcable stetuto,regulatlon orordinance and if '"
<br /> �ny af Lhs�o!la�sa! is rno*o�vehlclPS the same will not be rented,used in rental servtce nor In any speed or endurance cont�st.(10) ;,,..
<br /> ' nebtorwfll pay Secured Perty anyand ell costs and expenses fncur�ed in recovering possesslon of theColleterel antl Incurred In enforcing f.-
<br /> . thi�cecu�ity agreement,and the sume shalt be secured by this security agreement. a
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<br /> � Until Default Debtor mey have possession of the Col lateral and use It in any lewful manner not fnconsistent with thfe apreement aMl not !
<br /> . fnconslstent with any policy of insurance thereon, t+nd upon de(ault Secured Party shall heve the immedieto r(ght to the posseselon of _
<br /> • the Collatoral.
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<br /> ==�I,.�� •.�+ Ocbta Shell Be tn Default under this ogreement upon the heppenfny of any of the following events or conditiona: 11)detautt In the pay- 4
<br /> _,� ���Y�;t ment or performance of any obligatlon, covenant or Ilobiiity contained or reforred to herein or in eny note evidencing the seme:12)any si.
<br /> -- � " warrenty.representation or statement made or furnished to Secured Party by or on beholf of Debtor proven to have been felse In eny ma-
<br /> - � , ' terial rospect when mede or furnished; (3) any event which results In the acceleration of the meturity of the indebtedness of Dobtor to
<br />-=�,+a�.��'•t' others under any indenture,agreement or undertaking; (4) loss,theft,damege, destniction sele or encumb►ance to or of eny of the Col- �
<br /> G`-_"��75 letaral. or the meking of ony levy,sei zure or attechment thereo(or the►eon: (6)death,dlssolution,tertninatlon of existence,insolvency. _
<br /> �_`�*�✓'�' ' business tailure, eppolntrnent of a receivor of eny part of the proporty of.assignment for the benefft of credltore by,or tl►o carnance- --
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<br /> --=�-�y;N.�-� ment of any proceeding under eny bankruptcy or insolvency lawa by or agefnst Debtor or any duarantor or aurety for Debtor.
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<br /> == Upon 3uch De}ault end et any time thereafter.or ff It deema itself Insecure,Secured Perty may declero all Obltgatlono sacured heroby _
<br />--_ �'`.�•,,�.t Immadfataiy due and peyable end shal i heve the remedles of a secured perty under the Nebraska Unfform Commerciel Code. Secured
<br /> R-�V�"�''.;,� Party may require Debtor to assemble the Colletoral and delivar o►meke it nvafinhle to Secured Perty at a plece m be designeted by
<br /> '-'-�°-,�',-F.�� Securctd Party which Is reasonably convenient to both parties. Unless the Collaterel 18 perishable or threatena to declino speedlly in
<br />�*���'� velue or Is of e type customorfly sold on e recopnized market. Secured Party wfll give Debtor reesonable notice of the time and place of -_
<br /> �-'�'"""-"� any publ Ic sele thereoi or of the time eker which any private sale or any other intended dfsposition thareof is to be made. fie require- �.
<br /> �:.q�v::-=.� ments of reasonable notice shell be met if such notice Is mailed,postage prepnid,to the address of Debtor shown at the beginning o! _
<br /> --�""''�^��" Mta egreement ut IQast ffve days before the tfine of the sale o�dlsposition.
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<br />- � l`��'� No waiver by Secured Perty ot eny d�teult shall operate as a waiver of c+ny other defeult or of the seme detault on a future occaslon. �:.:.-
<br /> " �•� "' The taking of this security agreement sholl not walve or impair ony other securiry said Secured Porty may have or hareafteracquire tor
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<br /> the payment of the ebove indebtedness,nor ehall thc+taking of any such addltionel security walve or irppair this security epreement: �-,�_,•;
<br /> -= but satd Secured Party mey resort to any socuriry It mey have in tho order It may doem proper,and notwithatanding�any collatoral socu-
<br /> � rity,Secured Porty shall retaln its rights of satoff egalnst Debtor.
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<br />_ � All righta of 5ecured Pe►ty hereunder shol l inure to the benef it of its succossors and assigns; and oll promises and dutles of Dobtor _-___
<br /> - � sheli bind his hefrs.executors or odministrators or his or its Succaosors or essipne. If Uiere be more th9n one Debtor,thelr I fabtlitlea .�."��__
<br />- � horeunder shall be joint nnd soverel. ^�- -
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<br /> ThiS agreomont shall became ettective when It Is signed by Debtor. '�°-'
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