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Home My WebLink About1539 J ! : . ~ . . .1~ M ~ • ~ ~ . 133125 ~ . HUGGINS-KNBC~iT' LBASING GO., INGORFORAZ'BD Q~AT'i'BL ~[0~1~GAG8 (Sea~rlh? A~reemast) Tffi8 CBATTEL YOIt'niAaE dsbd u o~ Febzuary 1~ 1965 ~ g~t T~..4s eoipoistlon (tb. "compaq~") L..i~ ia pilretpal oRfo. at n.lw wtbl.tle t~ob Bo~w- i~. Da11M. ~ras. pat~7 os tD~ Sr~R piurl, to THE 1~RINNESOTA MUTUAL L~E INSURANCE COMPANY part~ ot ~ ~seond pait(th~ "Yorttss+ss"). WITNESSETB: WHg88A8. Y aad tb~ Coaspa~ ban ~ntez~d into ~ Not~ A=r~emwt dated ss d~~r,y~ ..~$~5. (tDs "Not~ A~r~ww~proddiu` for ths iuaane~ and ddi~er~r to tbs Yort~a~ sad t~ eommitment a~t6~~Yo~a~ to DurduN ~am Hm~ to Nrne oa or be~ors F'ehr a v 2(~....1~b5.~.~......,.... tbs A'1L'X. Cl~t~l Yatt~ap No~ ~tntsr~st al~tbi nt~ ~'1i7G p~ tann to~tnrl~~and~to matnrs ia tbe mont~fas~lall~aab oa~tbi i~ta~ltmeat ~ ms~dates speeHied in tM Not~ A~e~eement, with a final in~tallmenC not mars tbanlD__~~ imm tbs dsb at and to otb~rwlN snbstantiallj in t6e lorm ot, and to prodds !or ths oontla,~ant ps~m~nb ~st la~tL in, t~ lorm~ ~ Not~ atbcLed l~ss~sto as ~Zhibit "A": and - WBSBTAB. ths Note~ iasned or to bs Lsned and ontshnding nnder ths Nots A~reemeat and all prtneipal ther~ot sad lntsrest ths~eon ana al1 addltional amonnta aad other snms st aay tiaos dus a~ o n~ irom or to bs~ by the Compaap mdar ths termi oi tbe Notes, thia Yortss=e or. the Note A=reemeat srs L~rsinaiter ~opns~rderrs~ to as'~In. debtedae~s harsbY ~e~nred": ~nd . ~y ~WSEm R8A3. all oi the ~enb ot Lw aad ths b~ Lw~ and artleles oi inoorporatl~ oi tI~ Com lu~rs baan !os the ieea~t~ ~ tbs No~ ~ve bseLn d~ons~psrto~ ~ Yort~s~s s ~s1W. bindins and 1~in~nmeat NOW. THEBBFORTs. the ComPan7. la eanddantton of the prsmi~sr aad a~ ~u mm at Ti~ Dollais r~ost~rsd b~ tb~ Com~ fr~ tbs l[ortrases and otbaz ~ood and vslnible eonsiderationr rseei t whsrsoi is bsrsby aelmow .~nd in ordaz to ~scars tba psymant oi ths prlne.ipal oi and intersat oa tbs Notes to tbeir ~~nor snd eQeet~~to ~ecnre the Ps7meat o! all oth~ iAdebtedna~ ~ieenrsd and ths pattoreoat~ee and o ot sU ths ea~e~anb and ow~di- . tlmu iu tDs Notes a~i in this Yo and tbs Nots Asersm~at eontaiasd bait ~ranted, bat~atn~d. wld, eon~eyed. wa~ ~ortBi?~. P~~E~ a~ h~ ted. and by thess preae~nta doea bsrs~r ira~?t. ba~ain, ~e11, co i~watrant. ~ mort~e, pledae and hypotheeste, nnto the Yortsaaee. its asooea~on aad aa~d~ =~orener. sll and dnral.r .nns = deicsibed ProParties. ri8hts. interata. and psi~ileges f sll of which propartiea mort~ed. aai~ned and Pledted or - ; inteaded ~o to be ars bersinatter ooAectlvd~ refere~ed to as !hs "modi~i'~ p~ DIV~3ION Y T~ etore Ec dairy equipment . ~ - _ aad otber P~nonal P~P~7 de~edb~d in E~iMt'B' ~ttac~ hereto and a~ad~ a part Lrr~o! bda~ wmr a~ th~ ~qdDmsnt l~ased and delhsred nndar that eert~in Eqoipment I.aass date8 a~ oi M,a 31 1 ~ . Mtwean tbs Compan~. as 7.es~or, and 1Ls $oathLnd ~t3on, s Ta:as tloa it~ "Iwa~e~"). ~ oo ~ a11 at tLs propsr~r eo~arcd b~ Snpplamenhs~ &h~du1~(~ aumbe~+sd $E-66~ ,~5E-6T4, ac SE-679 azec~ted 67 the Company and tbs I.eases punosnt to 3eetion I oi the I.eaae: aad DIViSION II All rl~Dk tltle and in~t oi the Com as Lessos in, ander and to ths I~ in~oiar ar tbs I~ ext~ds or rslat~s ~ to an~ ot the P:'aper~ ~in~bo~s descr~be~ aad all aetawrtes, eqniPme~?t, P~~ ~ ~PP4~ a~p os attached to any o~ tbs proparty herainsbovs dacnbed. whathar now owned or hereaita~ sc4airsd. and ;11 sabstitn ~ renewals and re~so~ ta of and addItlons, impsovement~ ~teoesdons aad aee~mnlations to sa~ and sll oi pid proparty. s1~ ~e t~nt~, i~. ~om~e. prnAts ~ad av~ils thereoi. $UBJSCT, HOWEVE$, to (s) ths riaht, tltle and interest oi the I.ea~es uadsr tbs I.ea~s, atod (b) the lien ot ensrant tazes and ssKaameats not in detaulk or, ii delinqnaat~ ths ~atidity of whie]~ ii bein~ oontested ia ~aod taitb; , TO HAVE AND TO HOLD the mott~ased property m~to ths l[ortesses, tb saooaaon aad aai~as, lore~er; ptnvided stways, howavbr, that theas preaents are npon the espi+ess condition tb;t I ths Yort~~ r~sil pa~ os csnss to bs pa[d aIl t2~e indebtedness hereby ~ecured and shsil cbaer~e. keep and perlorm sll ths teims snd co~itlons. eo~e~ants aad asreements harain aad in the Note Agreement snd eaid Notes contained~ then tbess pse~enta and the estate henebqgran ted aad coir ~ : ~eyerl aba11 ceass and this l[ortgage ~aU beoome nnll and void; otherwiis to reaoain in inll force and eQeet € ~ BECI'ION t70YffidANT$ AND WARRANTIffi: ~ 1Ls Company covenants, w+arranks and a~+ees ai follows: ; L!. T6e Company oovenants and sarees well and truly to psrform, sbide by aad to bs soveraed aad reatrieted b~ ~ eaeh and all of tbs ternas, provLions, restrietions, ooveaanta and asreemenb ~st forth ia tsid Note Aareement, and in eieb l • ~nd every snpplement thereto or amendment thereof whieh rnay a! any tlms or trnm tims to tlms bs eo~eented and d~livered ~ b7? the ~rtia thereto or their sooeesson and asai6ns. to the rsme a~cteut ai thon~h esch aad sU af e~aid term~. pso~idons, - re~cbona. cm?eaanb and asn~ements were fally ~et ont herein and a~ thonsh aa~ smeadment or aepplement to aid Nots Aareemeat ware tnlly sst oat in an amendmmt or aapplemeat to this Yort~~e. 1.l. The Comp~ny b lawfully seized and poskssed oi the mortgaaedprupert~ deserIbsd in Dt~isi~ I oi tbs traatit~ elsass 1?areot and ha~ good rigLt, inll powar snd anthority to conve~r, tranaiar and mort~e all soch mott~a prupesty ths Yortsages ior ths nses and ~ns~wies herein set lo~rtb, aad such propsrt~ describe~Tia ssid Dhid~? Y~owned -the Compaay irae from any snd all Uens aad enenmbrances (exc~ptinB onlr as ru+s mmtim?ed in the ~rsatinr eLnss barwi; and tlut it will wat~ant and defe~d t~e ttti~ lhereto s~ainat all eLims and demaad~ wbatao~ve~: i.~. Tb~ Company wlil do, e~ue~t~, ~elmowl~ aad d~Uve~ ~11 and ~ iarth~ra~ta, d«ds, ttand~ss tl~s m~o °r propaz for the bstter auuriaS. ew?veyini. assfi~nia~ aad ou~nfirns3nt uato~~ ~ tbs p~vPertr. or propattp inteoded w to be. whsther now owned or hers~tter aequired. Wlthont in~ fosegou~~Com y oove~ants aad tha! pr~os to or concnrreatl~ with the issoanes oi Notes st any Snb~sqoemt ~ Dat~ id~ed ior by ths Note~,~eement the Company will e~ceeate, aekaowkdrs and dsli~ a sapplement to ~ orts~[+~ptldaetat~ ia to~ and eonte~nt to ibs Yortgs=es ~ deserib_ iaj ths eqaipmaat whieb L betn~ Saaneed tbroo tbe iswanos oi such Notes as part of tbs mo propett~ and ~bsil reeord soeh ~upplenaent o: N~ tbs ~ams for :+ecord ia aU pobik osioes whe:+ein saeh recor8ina or is neoer~sr~? to periect tLe Itea o! tbis Yostrsse a~ ~7 WDP~nted as asainst erediton of and porc}~a~an irom Company. 1.~. Ths ComPan~ wrill P~n P~~ ths iadsbtednew hareby ~eeured as and whea tb~ ~ia~ or ao~ part tLsnoi b~- eomes dw (wb~tber b~ Lprs oi ~i. deelsration, demaud or otbaswiss). - 1.6. Tbe Caonpan~ wID catus tbs mort~as~ed p~op~rt~ aud eseb aaarwr~ part tbee+~o~t to b msintain~d, p:essr?~d and I~epR is ~ste and ~ood rsPatr, workins orda and eond~tian, aad will lrom tlm~ to tlms maic~ ~a ~ ar~ aad p~pss raPairs. ra~ews4 sndssp iaesmeats ~o th~t tbs ~alne and ~a~ ~oeh D~D~ a~all not b~ i~ ~d ho~- ; sser. tbst aothins in thia 8~ctio~ 1.6 absll b deemoed to Coaspaa~ 3o r ~+~ae~ o~ m~a ~aa~ it~s o~ ' . ~~~rti~id P*'oP~ with t~espee! to whieb ~eWem~t Iw bwn msds b~ po~soaat to 8~etla~a 10 0~ ° i re~.:a a-N ~t. . p'a'' ~ ~ ~~0 ~ 33~