HANMI BANK’S APPLICATION FOR ADMINISTRATIVE EXPENSES OWED UNDER EQUIPMENT FINANCE AGREEMENTS

Page 1 

Paul H. Cross

Texas Bar No. 05131500

PAUL H. CROSS ATTORNEY AT LAW PLLC

11300 N. Central Expwy., Suite 604

Dallas, Texas 75243

Telephone: 214.926.5734

Facsimile: 214.269.1439

Email: phclease@msn.com

ATTORNEY FOR HANMI BANK

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE NORTHERN DISTRICT OF TEXAS

WICHITA FALLS DIVISION

IN THE MATTER OF: § CASE NO. 24-70089 

 § 

HIGH PLAINS RADIO NETWORK, LLC, § 

 § 

DEBTOR § CHAPTER 11, Subchapter V

HANMI BANK’S APPLICATION FOR ADMINISTRATIVE EXPENSES

OWED UNDER EQUIPMENT FINANCE AGREEMENTS

Hanmi Bank ("Movant") applies for payment as priority administrative expenses sums owed by 

High Plains Radio Network, LLC (“Debtor”) under two equipment finance agreements, and in support 

respectfully shows:

Notice Under Local Bankruptcy Rules

NO HEARING WILL BE CONDUCED HEREON UNLESS A WRITTEN RESPONSE IS 

FILED WITH THE CLERK OF THE UNITED STATES BANKRUPTCY COURT AT 1000 

LAMAR, SUITE 222, WICHITA FALLS, TEXAS 76301 BEFORE 4:00 O’CLOCK P.M. ON MAY 

4, 2024, WHICH IS 21 DAYS FROM THE DATE OF SERVICE HEREOF.

ANY RESPONSE MUST BE IN WRITING AND FILED WITH THE CLERK, AND A 

COPY MUST BE SERVED UPON THE COUNSEL FOR THE MOVING PARTY PRIOR TO THE 

DATE AND TIME SET FORTH HEREIN. IF A RESPONSE IS FILED A HEARING WILL BE 

HELD WITH NOTICE ONLY TO THE OBJECTING PARTY.

IF NO HEARING ON SUCH MOTION OR NOTICE IS TIMELY REQUESTED, THE 

RELIEF REQUESTED SHALL BE DEEMED TO BE UNOPPOSED, AND THE COURT MAY 

ENTER AN ORDER GRANTING THE RELIEF SOUGHT OR THE NOTICED ACTION MAY 

BE TAKEN. 

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HANMI BANK’S APPLICATION FOR ADMINISTRATIVE EXPENSES OWED UNDER EQUIPMENT FINANCE AGREEMENTS

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Introduction

1. This motion is filed under Sections 363 and 365 of the United States Bankruptcy Code (the 

"Bankruptcy Code").

2. Hanmi Bank seeks payment, as a priority administrative expense under Section 365 of the 

States Bankruptcy Code, sums owed to it under two equipment finance agreements (each an “EFA” and 

collectively the “EFAs”) for Debtor’s use, enjoyment and possession of certain radio broadcasting 

transmission equipment (collectively the “Equipment”) located at or near Friona, Texas and Mangum, 

Oklahoma (near Altus, Oklahoma).

Background

3. On March 26, 2024, Debtor filed a voluntary petition under Chapter 7 of the Bankruptcy 

Code.

EFA No. 40467799

4. Amur Equipment Finance, Inc. (“Amur”) and Debtor executed and entered into an 

Equipment Finance Agreement ( “EFA 40467799”) dated July 28, 2022 now known as Hanmi Bank 

Equipment Finance Agreement No. 40467799 regarding a RVR transmitter; (1) ORBAN 2200 and (468) 

Audio Feed Line bearing serial no. TX10KPS/G-0139, 808122-011, located at 725 FM 2013, Friona, Texas 

79035.

5. A true and correct copy of EFA 40467799 is attached to this pleading as Exhibit 1 and 

incorporated by reference.

6. The Equipment was to be and was provided and supplied by Process Technologies & 

Services, LLC (“Supplier”).

7. The portion of the Equipment which is the subject of EFA 40467799 is described in the 

invoice from Supplier, attached to this pleading as Exhibit 2 and incorporated by reference.

8. Debtor agreed under EFA 40467799 to make 60 equal successive monthly installments to 

Amur in the amount of $2,266.00.

9. Bankruptcy and insolvency of Debtor are events of default under EFA 40467799.

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HANMI BANK’S APPLICATION FOR ADMINISTRATIVE EXPENSES OWED UNDER EQUIPMENT FINANCE AGREEMENTS

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10. EFA 40467799 allows Amur, upon default by Debtor, to take possession of the Equipment 

through judicial process or extrajudicial means and to dispose of the Equipment.

11. The indebtedness under EFA 40467799 was and is secured by a security interest granted 

by the Debtor in and to the Equipment.

12. Amur perfected the security interest in the equipment which is the subject of EFA 

40467799 by filing a UCC-1 financing statement with the Texas Secretary of State on December 1, 2021. 

13. A true and correct file-marked copy of the UCC-1 financing statement alleged above is 

attached to this pleading as Exhibit 3 and incorporated by reference.

14. The portion of the Equipment which is the subject of EFA 40467799 was delivered to and 

accepted by Debtor, as shown by the Equipment Acceptance Certificate, a true and correct copy of which 

is shown in Exhibit 4 attached to this pleading and incorporated by reference signed by Debtor on December 

1, 2021.

15. Amur paid Supplier the full purchase price for the equipment which is the subject of EFA 

40467799.

16. Amur assigned EFA 40467799 to Hanmi Bank and its rights in the equipment which is the 

subject of EFA 40467799 for value.

17. Hanmi Bank did not have knowledge of any claim or defense at the time of the assignment 

to it of EFA 40467799 from Amur.

18. Hanmi Bank remains the sole owner of the EFA, the security interest alleged above and all 

rights in the same.

EFA No. 40478603

19. Hanmi Bank and Debtor executed and entered into an Equipment Finance Agreement 

(“EFA 40478603”) dated July 28, 2022 known as Hanmi Bank Equipment Finance Agreement No. 

40478603 regarding radio transmission equipment, goods, property and accessions thereto, located at 860 

East 155 Road, Magnum, Oklahoma 73554. 

20. A true and correct copy of EFA 40478603 is attached to this pleading as Exhibit 5 and 

incorporated by reference.

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HANMI BANK’S APPLICATION FOR ADMINISTRATIVE EXPENSES OWED UNDER EQUIPMENT FINANCE AGREEMENTS

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21. The portion of the Equipment which is the subject of EFA 40467799 was to be and was 

provided and supplied by Supplier.

22. The portion of the Equipment which is the subject of EFA 40467799 is described in the 

invoice from Supplier, attached to this pleading as Exhibit 6 and incorporated by reference.

23. Debtor agreed under the EFA 40478603 to make 60 equal successive monthly installments 

to Hanmi Bank in the amount of $2,573.44.

24. Hanmi Bank and Debtor executed and entered into a Disbursement Authorization to EFA 

40478603.

25. Bankruptcy and insolvency of Debtor are events of default under EFA 40478603.

26. EFA 40478603 allows Hanmi Bank, upon default by Debtor, to take possession of the 

subject equipment through judicial process or extrajudicial means and to dispose of the Equipment.

27. The indebtedness under the Hanmi Bank was and is secured by a security interest granted 

by the Debtor in and to the equipment which is the subject of EFA 40478603.

28. Hanmi Bank perfected the security interest in the equipment alleged above by filing a 

UCC-1 financing statement with the Oklahoma County Clerk on March 3, 2020.1

 

29. A true and correct file-marked copy of the UCC-1 financing statement alleged immediately 

above is attached to this pleading as Exhibit 7 and incorporated by reference.

30. The equipment which is the subject of EFA 40478603 was delivered to and accepted by 

Debtor, as shown by the Delivery and Acceptance Certificate shown in Exhibit 8, signed by Debtor on 

February 25, 2022.

31. Hanmi Bank paid Supplier the full purchase price for equipment which is the subject of 

EFA 40478603.

32. Hanmi Bank remains the sole owner of EFA 40478603, the security interest alleged above 

and all rights in the same.

1 Under Oklahoma law, UCC-1 financing statements are to be filed with the Oklahoma County, Oklahoma 

Clerk. 12A OK STAT. ANN. tit. 12-A § 1-9-320.3 (2023). 

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HANMI BANK’S APPLICATION FOR ADMINISTRATIVE EXPENSES OWED UNDER EQUIPMENT FINANCE AGREEMENTS

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Necessity for Relief

33. Debtor defaulted on, breached and repudiated EFA 40467799 by failing to pay the sums as 

thereby required, and failed to cure its payment default.

34. Debtor defaulted on, breached and repudiated EFA 40478603 by failing to pay the sums as 

thereby required, and failed to cure its payment default.

35. Debtor defaulted on both of the EFAs by commencing the above-named bankruptcy case.

36. Upon information and belief, Debtor is insolvent, which is an event of default under both 

of the EFAs. 

37. Hanmi Bank is without adequate protection in regard to the Equipment so long as it is 

prevented by the automatic stay from taking action to recover the Equipment.

38. Debtor has failed to provide adequate protection for the Equipment which is the subject of 

EFA 40467799.

39. Debtor’s representative and member, Monte Lee Spearman, testified in this Court on April 

5, 2024 that Debtor is not conducting broadcasting operations at its place of business at or near Friona, 

Texas.

40. Debtor’s representative and member, Monte Lee Spearman, testified in this Court on April 

5, 2024 that Debtor is not using the portion of the Equipment which is the subject of EFA 40467799.

41. Because Debtor is not using the portion of the Equipment which is the subject of EFA 

40467799, there is no reason for Debtor to retain possession.

42. Debtor has failed to provide adequate protection for the Equipment which is the subject of 

EFA 40478603.

43. Debtor’s representative and member, Monte Lee Spearman, testified in this Court on April 

5, 2024 that Debtor is currently conducting broadcasting operations at its place of business at or near 

Magnum, Oklahoma.

44. Debtor’s representative and member, Monte Lee Spearman, testified in this Court on April 

5, 2024 that Debtor is currently the portion of the Equipment which is the subject of EFA 40478603.

45. As Debtor has not assumed either of the EFAs, there is significant likelihood in this case 

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HANMI BANK’S APPLICATION FOR ADMINISTRATIVE EXPENSES OWED UNDER EQUIPMENT FINANCE AGREEMENTS

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that recovery and disposition of the Equipment will be the only recovery for Hanmi Bank in regard to the 

EFAs.

46. As of April 8, 2024, the unpaid remining balance owed on EFA 40467799 is $53,000.00.

47. As of April 8, 2024, 33 monthly installments payable under EFA 40467799 remain payable 

under the EFA.

48. As of April 8, 2024, Debtor has paid the monthly installments payable under EFA 

40467799 only through February 1, 2024.

49. As of April 8, 2024, Debtor has not paid the monthly installment payable udert her EFA 

which was due by March 1, 2024.

50. As of April 8, 2024, the unpaid remining balance owed on EFA 40478603 is $74,550.40.

51. As of April 8, 2024, 37 monthly installments payable under the EFA remain payable under 

EFA 40478603.

52. As of April 8, 2024, Debtor has paid the monthly installments payable under EFA 

40478603 only through February 1, 2024.

53. As of April 8, 2024, Debtor has not paid the monthly installment payable under EFA 

40478603 which was due by March 1, 2024.

54. As of April 3, 2024, the unpaid remining balance owed on EFA 40478603 is $95,217.28.

55. Debtor should be ordered and compelled to pay all sums owed under and which will 

become owed under the EFAs as a priority administrative expense under Section 365 of the Bankruptcy 

Code. 

56. Debtor continues to have the use, enjoyment and possession of the Equipment and benefit 

thereby.

57. This Court should thus be grant and awarded Hanmi Bank administrative rent for postpetition use of portion of the Equipment which is the subject of EFA 40467799 in the amount of $2,266.00

per month.

58. This Court should thus be grant and awarded Hanmi Bank administrative rent for postpetition use of portion of the Equipment which is the subject of EFA 40478603 in the amount of $2,573.44

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HANMI BANK’S APPLICATION FOR ADMINISTRATIVE EXPENSES OWED UNDER EQUIPMENT FINANCE AGREEMENTS

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per month. 

Prayer

Movant requests that: 

1. this application under Section 365(d)(3) of the Bankruptcy Code be granted for Debtor’s 

post-petition use of portion of the Equipment which is the subject of EFA 40467799 in the 

amount of $2,266.00 per month and Debtor’s post-petition use of portion of the Equipment 

which is the subject of EFA 40478603 in the amount of $2,573.44 per month, and such 

amounts be awarded to Hanmi Bank; and

2. it be granted such other and further relief, special or general, legal or equitable, to which it 

may be entitled.

Respectfully submitted, 

 ___________

Paul H. Cross 

Texas Bar No. 05131500 

PAUL H. CROSS ATTORNEY AT LAW PLLC

11300 N. Central Expwy., Suite 604 

Dallas, Texas 75243 

Telephone: 214.926.5734 

Facsimile: 214.269.1439 

Email: phclease@msn.com

COUNSEL FOR HANMI BANK

Certificate of Conference 

 

Hanmi Bank’s undersigned attorney certifies that on April 6, 2024, he attempted to confer with 

Debtor’s bankruptcy counsel regarding the merits of the foregoing motion, and that the latter counsel failed 

to state Debtor’s position in regard to the same.

 ___________

Paul H. Cross

Certificate of Service

The undersigned certifies that on April 13, 2024 a true and correct copy of the foregoing motion 

was served via ECF upon all those receiving ECF notification in this case. 

 ___________

Paul H. Cross 

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Document Page 7 of 29
EXHIBITS 

FOR

HANMI BANK’S INITIAL MOTIONS AND ANY RELATED 

DECLARATION AND DISCOVERY REQUESTS

EXHIBIT 1 EQUIPMENT FINANCE AGREEMENT NO. 40467799

EXHIBIT 2 INVOICE FROM SUPPLIER FOR EQUIPMENT FINANCE AGREEMENT NO. 40467799

EXHIBIT 3 FILE-MARKED UCC-1 FINANCING STATEMENT FOR EQUIPMENT FINANCE 

AGREEMENT NO. 40467799 FILED WITH TEXAS SECRETARY OF STATE

EXHIBIT 4 EQUIPMENT ACCEPTANCE CERTIFICATE FOR EQUIPMENT FINANCE AGREEMENT NO.

40467799

EXHIBIT 5 EQUIPMENT FINANCE AGREEMENT NO. 40478603

EXHIBIT 6 INVOICE FROM SUPPLIER FOR EQUIPMENT FINANCE AGREEMENT NO. 40478603

EXHIBIT 7 FILE-MARKED COPY OF THE UCC-1 FINANCING STATEMENT FILED WITH OKLAHOMA 

COUNTY CLERK FOR EQUIPMENT FINANCE AGREEMENT NO. 40478603

EXHIBIT 8 DELIVERY AND ACCEPTANCE CERTIFICATE FOR EQUIPMENT FINANCE AGREEMENT 

NO. 40478603

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EXHIBIT 1 

EQUIPMENT FINANCE AGREEMENT NO. 40467799

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Customer No. Contract No.

367468 1053897

www.amuref.com Docs & Funding Version 1.2 Date 4/1/2021

EQUIPMENT FINANCE AGREEMENT

Customer (also you or your) High Plains Radio Network, L.L.C. Address PO Box 1478, Plainview, TX 79073

Amur Equipment Finance, Inc. (Secured Party, also we, us or our) agrees to provide to you the Financed Amount subject to the terms and conditions of this EFA.

1. Key Definitions

Financed Amount Term Required Initial Payment Periodic Payment Payment Frequency Balloon Payment Security Deposit

$101,716.00 60 Months $2,266.00 $2,266.00 Monthly N/A N/A

EFA means this equipment finance agreement and all schedules, exhibits, addendums and amendments thereto (also referred to as Contract).

Contract Documents refer to this EFA and all agreements and documents related thereto (excluding any Guaranty) described as Contract Documents and identified by the above Contract Number.

Obligations means all your payment and performance obligations under this EFA and all other Contract Documents.

Equipment means the equipment and/or personal property financed hereunder by us and described in Schedule A.

Collateral means the Equipment and any additional collateral pledged to us to secure the Obligations as described in Schedule A.

Guaranty means any written guaranty of your Obligations hereunder; Guarantor refers to any person or entity that signs a Guaranty.

Funding means any portion of the Financed Amount we pay to a designated vendor or reimburse to you.

Payment Due Date means, throughout the entire Term, the same numeric day of each month as we will advise you.

2. Term. The Term shall commence on the first Payment Due Date. However, your Obligations and 

our rights hereunder shall begin the day we execute this Contract, which shall remain in full force 

and effect, together with all Contract Documents, until you have completely and indefeasibly 

discharged all Obligations.

3. Unconditional and Non-Cancelable Obligations. YOUR PAYMENT AND ALL OTHER 

OBLIGATIONS UNDER ALL CONTRACT DOCUMENTS ARE ABSOLUTE, UNCONDITIONAL 

AND IRREVOCABLE AND NOT SUBJECT TO ABATEMENT, REDUCTION, SET-OFF, CLAIM, 

OR DEFENSE FOR ANY REASON WHATSOEVER, WHETHER ARISING OUT OF ANY PAST, 

PRESENT OR FUTURE CLAIM AGAINST US, A VENDOR, THE COLLATERAL, ANY THIRD 

PARTY, A CASUALTY OR EVENT BEYOND YOUR CONTROL. YOU CANNOT CANCEL OR 

TERMINATE THIS EFA OR ANY OTHER CONTRACT DOCUMENT FOR ANY REASON.

4. Disclaimer of Warranties. You acknowledge and agree that: (i) you selected the Equipment, 

accept it AS IS and WE MAKE NO EXPRESS OR IMPLIED WARRANTIES WHATSOEVER AS TO 

ITS MERCHANTABILITY AND/OR FITNESS FOR A PARTICULAR PURPOSE; (ii) you 

acknowledge and agree that you selected any software included with the Collateral (the Software), 

you assume all liability related to any unauthorized access or use of the Software and any data 

collected, stored or used by it (the Data) and we do not own or license any Software or Data nor 

have any duty to configure, maintain and/or otherwise safeguard them; (iii) YOU WAIVE AGAINST 

US, AND WE SHALL NOT BE LIABLE FOR, ANY CLAIM FOR LOSS, INJURY OR DAMAGE 

CAUSED BY ANY COLLATERAL AND/OR CONTRACT DOCUMENT, INCLUDING BUT NOT 

LIMITED TO, ALL SPECIAL, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR EXEMPLARY 

DAMAGES; (iv) you shall look only to the vendor or manufacturer (not us) for any claim related to 

Equipment or Software, which shall not relieve you or any Guarantor from any respective obligations 

hereunder.

5. Security Interest. To secure your performance of the Obligations, you grant us a first priority 

security interest in the Collateral (the Security Interest). Failure to perfect our Security Interest in 

any Collateral shall not affect or impair your Obligations or those of any Guarantor. You have (or 

will have upon acquisition of the Equipment) good and marketable title to the Collateral and shall 

maintain such title until all your Obligations have been satisfied. You shall not sell, transfer, lease, 

assign, relinquish possession of or otherwise dispose of the Collateral, which is and must remain 

free and clear of any security interest, lien or encumbrance of any kind (except our Security Interest) 

and be under your control at all times. You shall give us immediate notice of any unpermitted liens, 

claims or encumbrances and cause them to be immediately and irrevocably removed at your 

expense. You shall title and/or register any eligible Collateral as directed by us.

6. Payment Obligations

(a) You promise to pay to us in good and immediately available funds, with or without notice or 

demand, all the amounts listed herein (each, a Payment).

(i) The Required Initial Payment, any Security Deposit and the Transaction Fees (all as 

disclosed in the Document Package Checklist) prior to us advancing any Funding. If we 

choose not to execute this EFA for any reason, we will return any Required Initial Payment, 

Security Deposit and title fees not incurred but keep the balance as liquidated damages.

(ii) Throughout the Term at the Payment Frequency, each Periodic Payment on the applicable 

Payment Due Date.

(iii) At the end of the Term, the Balloon Payment, if any.

(iv) A Per Diem amount, which shall constitute interest on the Financed Amount and be 

calculated as 1/30th of the highest Periodic Payment amount for each day between the last 

Funding and the first Payment Due Date.

(v) All costs and expenses, whether incurred by us, counsel and/or agents, related to the Contract 

Documents, such as due diligence, documentation, searches and inspection costs, as well as 

fees and expenses to establish, perfect, protect or enforce our rights, interests and remedies, 

irrespective of whether you or any Guarantor is in default of any obligation to us.

(vi) Any other amounts due under this EFA or any other Contract Document.

(b) We shall apply all Payments in our sole discretion to satisfy the Obligations and disregard any 

restrictive endorsement.

(c) You authorize us to increase any applicable Payment by up to 15% or decrease them without 

limit to reflect a corresponding change in the Financed Amount; any such increase or decrease 

will be reflected in our billings to you.

(d) You agree to pay: (a) for each Payment we do not receive in full within ten (10) days of its due 

date, a late charge equal to the greater of (i) 10% of such late Payment and (ii) a minimum 

amount determined by our then-applicable fee policy; (b) for each returned ACH debit charge or 

check, a fee determined by our then-applicable fee policy.

7. Security Deposit. We may commingle any Security Deposit with our assets and apply it to any 

Obligation at our sole discretion, after which you agree to replenish it. Any unused portion will be 

remitted to you, without interest, upon full performance of the Obligations.

8. Collateral Condition, Maintenance and Inspection

(a) YOU SHALL USE THE COLLATERAL FOR BUSINESS PURPOSES ONLY.

(b) You shall keep at all times the Collateral at the location(s) specified on Schedule A or as 

otherwise disclosed to us, except you may move any mobile Collateral within the U.S. in your 

normal course of business provided it returns to such location(s) on a regular basis.

(c) You are responsible for properly installing, operating, maintaining, repairing and registering the 

Collateral and for keeping it in the same condition as when delivered to you, except for ordinary 

wear and tear. You shall not alter the Collateral without our prior written consent nor make it 

part of any real property. Any addition or improvement to the Collateral shall be deemed a 

permanent accession thereto subject to our Security Interest.

(d) Upon our written request, you shall prominently label the Collateral as being subject to our 

Security Interest.

(e) We may inspect the Collateral and related documentation at any reasonable time.

9. Insurance and Risk of Loss

(a) You agree to keep the Collateral insured against loss and liability under terms and with insurers 

acceptable to us (the Required Coverage) and agree to have us named as lender’s loss payee 

and additional insured. Upon demand, you agree to provide us with valid evidence of the 

Required Coverage.

(b) If you fail to maintain the Required Coverage (and without us waiving any resulting default), we 

have the right to purchase, at your expense, insurance to protect our interests, in which case 

you acknowledge and agree that we are not a reseller of insurance and the amount we bill you 

may be higher than what your insurance provider could have charged you and include a profit 

for us as well billing and processing fees.

(c) You shall bear the entire risk of loss, theft, damage, destruction or requisition (each, a Casualty) 

of the Collateral from any cause whatsoever. You shall promptly notify us in writing of any 

Casualty and follow our directive by either (i) placing the affected Collateral in its pre-Casualty 

condition at your sole cost and expense or (ii) paying all remaining Obligations, less any Casualty 

proceeds received by us.

10. Taxes. You are required to report and pay when due all personal property taxes on the Collateral. 

You are required to pay when due all other taxes, fees, assessments, interest, penalties and other 

governmental charges arising hereunder, including, without limitation, all other personal property, 

excise, use, sales and gross receipts taxes (excluding our income taxes), plus user fees, tolls and 

fines (collectively, the Taxes), even if we may, in our sole discretion, elect to pay any Taxes directly 

to the appropriate taxing authority on your behalf, in which case you agree to promptly reimburse 

us that cost.

11. Representations and Other Agreements

(a) You are and shall remain (i) duly organized, validly existing and in good standing under the laws 

of the state of your organization and are and (ii) duly qualified and licensed to do business 

wherever necessary.

(b) You shall give us at least thirty (30) days’ prior written notice before you change your name, 

mailing address or place of business.

(c) You have adequate power and capacity to enter into this EFA and all other Contract Documents, 

which have been duly authorized, executed and delivered by, and constitute valid, legal and 

binding agreements enforceable against, you.

(d) Except as previously set forth in writing to us, you do not require a governmental or other 

approval to enter into the Contract Documents and your execution thereof does not violate any 

judgment, regulation or law.

(e) All information you furnish to us is true, complete, correct and not misleading.

(f) You are not party to any legal proceeding and agree to comply with all Federal, state and local 

laws and regulations.

12. Default. Any of the following shall constitute a Default under this EFA:

(a) We do not receive any one Payment as and when required hereunder.

(b) You breach or fail to perform any obligation, provision and/or condition of this EFA or any other 

Contract Document.

(c) You or any Guarantor shall default under any other financial obligation or real property lease.

(d) You or any Guarantor shall have made an untrue or misleading statement or representation.

(e) You or any Guarantor takes any action to: (i) cease, suspend or wind up its respective business; 

(ii) terminate its existence (or if an individual, he or she dies or is adjudicated as incompetent); 

and/or (iii) transfer any portion of its ownership to, merge with or convey or dispose of 

substantially all of its assets to, any person or entity (each, a Dissolution Event).

(f) You or any Guarantor (i) becomes insolvent; (ii) takes any action under (or is involuntarily placed 

in) any bankruptcy, reorganization, insolvency, receivership or other similar proceedings for the 

relief of debtors or benefit of creditors; and/or (iii) makes an assignment for the benefit of 

creditors or admits its inability to pay its debts as they become due (each, an Insolvency Event).

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COPY VIEW or 

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UDING BUT NOT

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ot us) for any claim related to s) for any claim relate

ntor from any respective obligations or from any respective obligat

f the Obligations, you grant us a first priority the Obligations, you grant us a first prior

nterest). Failure to per ailure to perfect our Security Interest in fect our Security Interest in

our Obligations or those of any Guarantor. ns or those of any Gua You have (or 

uipment) good and marketable title to the Collateral and shall

Obligations have been satisfied. You shall not sell, transfer, le Obligations have been satisfied. You s

sion of or otherwise dispose of the Collateral, which is and mu of or otherwise dispose of the Colla

y security interest, lien or encu ntere mbrance of any kind (except our S brance of any kin

your control at all times. You shall give us immediate notice of a our control at all times. You shall give us immediate no

r encumbrances and cause them to be immediately and irre encumbrances and cause them to be immediately and ir

ense. You shall title and/or register any eligible Collateral as di title and/or register any eligible Collate

Payment Obligations

a) You promise to pay to us in good and immediately ou promise to pay to us in good and immediatel

demand, all eman the amounts listed herein sted herein (each, a (each a

) The Required Initial Payment, any The Required Initial Pay

disclosed in the disclos Document Pac cume

hoose not to execute this hoose not to execute th

curity Dep urity Deposit and

ughout the 

nt D

d on Sch

lateral within the hin t

on(s) on a regular basis. n(s) on a regular bas

maintaining, repairing and regis and r

n as when delivered to you, except for o as when delivered to you, excep

lateral without our prior written consent nor m eral without our prior written consent 

ion or improvement to the Collateral shall be deeme on or improvement to the Collateral shall be 

bject to our Security Interest. bject to our Security Interes

you shall prominently label the Collateral as being subject t you shall prominently label the Collateral as being subje

t the Collateral and related documentation at any reasonable tim the Collateral and related documentation at any reaso

d Risk of Loss Risk of Lo

agree to keep the Collateral insured against loss and liability un e to keep the Collateral insured against loss and

acceptable to us (the e to u Required Required Coverage) and agree to have gree to ha

and additional insured. Upon demand, onal insured. Upon demand, you agree to 

Required Coverage.

(b) If you fail to maintain the Required Coverage If you fail to maintain the Required Coverage

have the right to purchase, at your expe have the right to purchase, at you

you acknowledge and agree that w ou acknowledge and agree that w

may be higher than what you be higher tha

for us as well billing and well billin

(c) You shall bear the 

of the Collat

Casualt

co

AMUR Equipnzent Flnance 

..... ..... 

.,.,.. 

. ,.,._ ,.,._. 

-

--

-

-

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 10 of 29
Contract No.

1053897

www.amuref.com Long-form EFA

13. Remedies. Upon the occurrence of a Default, we can elect to declare you in default of this EFA 

and any other Contract Document and, subject to applicable law, exercise cumulatively any or all of 

the following remedies without notice to you or any Guarantor:

(a) Require that you pay us the sum of the following amounts (collectively, the Accelerated 

Amount) calculated as of the date of your Default:

(i) All accrued and unpaid Periodic Payments;

(ii) The present value of all remaining Periodic Payments and any Balloon Payment, all 

accelerated and discounted at an annual percentage rate equal to 2.50% plus the Treasury 

Constant Maturities rate (from the Federal Reserve Board H.15 Selected Interest Rates

release) with the term closest to, but not longer than, the remaining Term of this EFA;

(iii) All other Payments due hereunder;

(iv) All of our Enforcement Costs (as defined below); and

(v) A daily default interest equal to the lower of (1) an 18.00% annual percentage rate and (2) 

the highest amount allowed by law, applied to all sums due hereunder until paid to us.

(b) Demand turnover of the Collateral, which you shall immediately do at your expense as directed 

by us while preserving it in a marketable condition.

(c) Enter any premises where the Collateral is located to inspect, render unusable or take immediate 

possession of it, with or without demand, notice, court order or other process of law and without 

liability to us. In this case, you irrevocably waive to the fullest extent permitted by law any bond, 

surety or security required as an incident of such action.

(d) Sell, lease or otherwise dispose of the Collateral at a public or private sale, with minimum ten 

(10) days’ notice.

(e) Pursue one or more remedy available to us under any Contract Document, any Guaranty, the 

Uniform Commercial Code (the UCC), any other applicable law and/or in equity.

As material inducement for us to enter into this EFA, you expressly agree that the Accelerated 

Amount (i) represents a reasonable estimate of the anticipated harm we will suffer from a Default, 

such harm being difficult to ascertain accurately due to the variability of our operating, financing and 

other costs and (ii) compensates us for the loss of our bargain, including all costs, expenses and 

fees arising from such Default.

14. Enforcement Costs. Whether or not you or any Guarantor are in default and/or in bankruptcy, you 

shall be obligated to pay us all Enforcement Costs, which represent all attorney’s fees, other legal 

fees as well as all costs and expenses we incur, in the exercise or preservation of our rights or 

remedies and/or our efforts to enforce judgments, under this EFA, any Contract Documents or 

Guaranty, including all expenses related to the turnover, recovery, repossession, preservation, 

refurbishing, advertising, sale, re-lease or other disposition of any Collateral.

15. Assignment

(a) You may not assign, delegate or transfer any of your rights or responsibilities under any Contract 

Document, which shall remain binding upon you, your heirs, successors and assigns.

(b) We may sell, transfer, assign or otherwise convey to any affiliated or unaffiliated person or entity 

(an Assignee), without notice to you or your consent, any or all of our rights, interests and 

benefits (in whole or in part) under this EFA (including Payments due hereunder), any other 

Contract Document, a Guaranty or the Collateral (an Assignment). Upon any Assignment you 

acknowledge that: (i) such Assignee shall have the rights, interests and benefits we convey, but 

none of our obligations under any assigned Contract Documents; (ii) such Assignee’s rights shall 

not be subject to any claim, defense or set-off that you or any Guarantor may have against us; 

(iii) you shall perform all the Obligations hereunder for the Assignee as required under such 

Assignment; and (iv) if requested, you shall (and cause all Guarantors to) acknowledge such 

Assignment.

16. Indemnification. You agree to indemnify, defend and hold us, any Assignee and our respective 

agents, employees, directors, officers and shareholders, harmless (on a net after-tax basis) from 

and against any suits, claims, losses, damages, Taxes or other harms suffered (including but not 

limited to all attorney’s fees incurred and other Enforcement Costs) relating to this EFA, any other 

Contract Documents, Guaranty or Collateral and/or unauthorized access to Software or Data.

17. Choice of Law and Service of Process. THIS EFA AND EACH OTHER CONTRACT 

DOCUMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEBRASKA (WITHOUT 

REGARD TO ITS CONFLICT OF LAWS PRINCIPLES) REGARDLESS OF THE LOCATION OF 

THE COLLATERAL. YOU AGREE THAT WE HAVE THE OPTION TO CHOOSE THE VENUE, 

FORUM AND STATE IN WHICH WE COMMENCE ANY LEGAL ACTION OR PROCEEDING 

ARISING DIRECTLY OR INDIRECTLY AND/OR OTHERWISE RELATED TO THIS EFA, ANY 

CONTRACT DOCUMENT AND/OR THE COLLATERAL AND YOU HEREBY CONSENT TO THE 

NON-EXCLUSIVE JURISDICTION OF THE STATE COURTS OF THE STATE OF NEBRASKA, 

HALL COUNTY OR THE U.S. DISTRICT COURT LOCATED IN THE STATE OF NEBRASKA OR, 

IN THE EVENT THAT THIS EFA IS ASSIGNED BY US, ANY OTHER COURT SELECTED BY THE

ASSIGNEE. HOWEVER, IF YOU COMMENCE ANY LEGAL ACTION OR PROCEEDING 

AGAINST US, YOU MAY ONLY DO SO IN ONE OF THE AFORESAID COURTS LOCATED IN 

THE STATE OF NEBRASKA. You agree that any service of process shall be sufficiently served if 

sent to you by a nationally recognized overnight delivery service to your current address on our 

records and it shall be deemed complete two (2) business days after having been sent to you.

18. Arbitration. Any controversy, claim or breach related to this Contract may be settled by arbitration 

according to the LAWS OF THE STATE OF NEBRASKA; any judgment upon the award rendered 

by the arbiter(s) may be entered in any court of jurisdiction. Arbitration shall be held in the State of 

Nebraska under the American Arbitration Association commercial arbitration rules.

19. Waiver of Jury Trial. EACH PARTY HEREBY IRREVOCABLY WAIVES THE RIGHT TO TRIAL 

BY JURY OF ANY CAUSE OF ACTION, CLAIM, COUNTERCLAIM OR CROSS-COMPLAINT IN 

ANY ACTION OR PROCEEDING TO WHICH IT MAY BE A PARTY REGARDING ANY MATTER 

WHATSOEVER RELATED TO THIS EFA, ANY OTHER CONTRACT DOCUMENTS, GUARANTY, 

SOFTWARE, DATA AND/OR COLLATERAL.

20. Miscellaneous

(a) Entire Agreement and Amendments. The Contract Documents represent the entire 

agreement between you and us; they supersede all prior agreements and communications 

concerning this subject matter and may only be amended in writing by mutual consent, except 

you authorize us to: (i) date, complete blanks, update contact information and payments (as 

described above); (ii) correct any errors or omissions; and (iii) amend Schedule A.

(b) Further Authorizations. You authorize us to: (i) sign and file on your behalf any document we 

deem necessary to perfect, protect, dispose of, transfer, sell or enforce our interest in the 

Collateral; (ii) take any action authorized by the Contract Documents; (iii) make claims for, 

execute and endorse all documents and receive all payments for checks or drafts covering loss 

or damage; (iv) take any other action allowed under your insurance policies; and (v) grant any 

of these powers to our agents.

(c) Severability and Usury Savings Clause. Any provision or remedy in the Contract Documents 

found to be invalid shall not impair the remaining ones. You agree that a waiver of a Default 

shall not represent a waiver of any other Default, and that any delay or failure to enforce our 

rights does not prevent us from enforcing any rights later on. Any amount we bill or collect in 

excess than what is allowed by law (including usury laws, if applicable) shall be deemed a 

mistake and we will, respectively, reduce any such excess amount to the maximum amount 

permitted by law or apply it against your other Obligations.

(d) Notices. We reserve the right to send notices, at our discretion, by personal delivery; by mail, 

deemed effective three (3) days after sending; or by electronic means (including emails and/or 

SMS messages, in which case you may incur charges from your communications service 

provider), deemed effective when sent.

(e) Credit and Information Disclosure. You confirm that upon the submission of an application 

on your behalf for financing to us, you and each Guarantor authorized us, and further authorize 

us until all your Obligations are satisfied, to obtain any credit, financial, trade and/or business 

information on you and any Guarantor (and you confirm that each Guarantor provided you with 

such authorization) from any bank, financial institution, credit reporting agency, trade reference 

and/or any other person or entity.

(f) Communications and Marketing. You and any Guarantor expressly consent to receiving 

communications including email, voice and text messages (including prerecorded, automated 

and/or artificial messages) from us, our agents and/or our Assignees, for any purpose, including 

but not limited to marketing or collection purposes, at any email address, residential telephone 

line or wireless telephone number you provide us now or in the future (in which case message 

and/or data rate may apply). This consent is not a condition of doing business with, or 

purchasing any goods/services from, us. You and any Guarantor may unsubscribe or opt-out of 

any further telemarketing calls or marketing text messages at any time.

(g) Survival. All your Obligations and our rights shall survive the expiration or earlier termination of 

this EFA, all other Contract Documents and any Guaranty.

(h) Further Assurances. At your expense, you shall execute and deliver such additional 

documents and perform such further acts we may request to effect and preserve our Security 

Interest and rights under the Contract Documents. You also agree to deliver such information 

or documents we may request, including insurance certificates, financial statements, tax returns, 

equipment records, real property waivers and trade or personal banking information.

(i) Timing. Time is of the essence with respect to your Obligations hereunder.

(j) Headings. Headings are for convenience only.

Execution and Chattel Paper. This EFA and any related Contract Documents may be executed in counterparts manually or by electronic means and, when transmitted to us through any means (including electronic), 

shall be binding on you for all purposes as if manually signed. The copy of this EFA containing your original or electronic signature and (i) manually signed by us, marked “Original” and in our or any direct or indirect 

Assignee’s possession or (ii) electronically signed by us and stored as an electronic record under our control, shall constitute the original authoritative version of such document for all purposes and shall constitute 

the sole “chattel paper” as defined in the UCC. THIS CONTRACT CONTAINS AN ARBITRATION PROVISION WHICH MAY BE ENFORCED BY THE PARTIES.

CUSTOMER High Plains Radio Network, L.L.C. AMUR EQUIPMENT FINANCE, INC.

Signature

dl.signhere.2

Signature dl.signhere.5

Name Monte Lee Spearman Name dl.fullname.5

Title Member Title dl.title.5

Date dl.datesign.2 Date dl.datesign.5

-82:1547Ā.7;36893Ā0-)Ā%,-!& ""Ȁ/!"+Ȁ$ (+Ȁ*---Ȁ$-.'"$'+,#! 

 

	






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ct Documents; (ii) such Assignee’s rights shall t Documents; (ii) such Assignee’s rights sh

off that you or any Guarantor may have against us; at you or any Guarantor may have against us

ns hereunder for the Assignee er for the Assignee as required under such as required under such 

, you shall (and cause all Guarantors to) acknowledge such , you shall (and cause all Guarantors to) acknowledge such 

ree to indemnify, defend and hold us, any Assignee and our re o indemnify, defend and hold us, a

directors, officers and shareholders, harmless (on a net after olders, harmless t

y suits, claims, losses, damages, Taxes or other harms suffere , losses, damages, Taxes or other harm

all attorney’s fees incurred and other Enforcement Costs) relat all attorney’s fees incurred and other Enforcement Costs) re

tract Documents, Guaranty or Collateral and/or unauthorized ac ct Documents, Guaranty or Collateral and/or unauth

Choice of Law and Service of Process. ce of Law and Service of P THIS EFA HIS E

DOCUMENT SHALL BE GOVERNED BY THE LAWS OF UMENT SHALL BE GOVERNED BY THE LAWS O

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allowed under your insurance policies; and (v) grant allowed under your insurance policies; and (v

avings Clause. vings Claus Any provision or remedy in the Contract Docum ion or remedy in the Contract D

hall not impair the remaining ones. You agree that a wai not impair the remaining ones. You agree ver of 

ent a waiver of any other Default, and that any delay or failure nt a waiver of any other Default, and that any delay

s not prevent us from enforcing any rights later on. Any amoun not prevent us from enforcing any rights later on. Any am

ss than what is allowed by law (including an what is allowed by law (inc usury laws, if appli aws, if app

mistake and we will, respectively, reduce any such excess a nd we will, respectively, reduce any such exces

permitted by law or apply it against your other Obligations by law or apply it against your other Obligation

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deemed effective three (3) days after sending; deemed effective three (3) days after sending

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Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 11 of 29
Contract No.

1053897

www.amuref.com Long-form EFA

SCHEDULE A – COLLATERAL

This Schedule A represents an integral part of the EFA referenced by the Contract Number above.

For the purposes of this EFA, Collateral shall refer to the following Equipment, any collateral in which we have or shall have a Security Interest, ownership and/or title under a separate 

agreement with the Customer, as well as any additional collateral listed below, in all cases whether now owned or hereafter acquired, together with all personal property installed in, affixed 

to or used in connection therewith and all present or future: (i) additions, accessories, accessions, attachments, parts, supplies, related software, intellectual property, rights, licenses and 

improvements thereto; (ii) substitutions, renewals, replacements and purchase options thereof; (iii) insurance, warranty, and other third-party claims; (iv) Customer’s rights in connection 

with a third-party’s use of such equipment under a sublease, rental or similar agreement; (v) proceeds and product in any form (including but not limited to insurance and sale proceeds) of 

each of the foregoing, whether it be cash, non-cash or in any other form; and (vi) to the extent the equipment identified herein is construed as or deemed inventory, that inventory and all 

accounts, accounts receivable, cash proceeds and all other proceeds related thereto or derived therefrom.

Equipment

Description VIN/Serial Number Equipment Location Vendor

(1) RVR TRANSMITTER; (1) ORBAN 2200; 

(468) Audio Feed Line

TX10KPS/G-0139, 

808122-011

725 FM 2013, Friona, TX 79035 Process Technologies & Services, 

LLC

-82:1547Ā.7;36893Ā0-)Ā%,-!& ""Ȁ/!"+Ȁ$ (+Ȁ*---Ȁ$-.'"$'+,#! This is a copy view of the Authoritative Copy held

by the designated custodian

COPY VIEW

THIS IS A COPY 

AMUR Equip,nent Finance 

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 12 of 29
EXHIBIT 2 

INVOICE FROM SUPPLIER FOR EQUIPMENT FINANCE AGREEMENT NO. 40467799

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 13 of 29
Invoice

Date

11//2021

Invoice #

20211110E

Bill To

High Plains Radio Network, LLC

PO Box 1478

Plainview, TX 79073

USA

Ship To

HPRN

725 FM 2013

Friona, 7; 79035

USA

10612-D Providence Road, #716

Charlotte, NC 28277-0233

P.O. No. Payment

Due on receipt

Rep

PV

Ship Date

11//2021

Ship Via Incoterm

Thank you for your business.

Phone #

704-817-5950

Website: www.processtechgroup.com

Total USD

Balance Due

Subtotal USD

Sales Tax (0.0%)

Payments/Credits

Pierre vanDongen

Cell: 704-907-6505

pierre@processtechgroup.com

Item Description Qty Rate(USD) Amount

Equip. RVR TRANSMITTER

Model #PJ10KPS-CA

10500W, 87.5-108 MHZ, RF Output 50 Ohm

SN TX10KPS/G-0139

1 7,870.00 7,870.00

Equip. ORBAN 2200

Model #2200U

FM audio processor, 20Hz-15kHz, Freq 2.0Hz-15kHz

SN 808122-011 CI

1 ,850.00 ,850.00

Equip. Audio Feed Line - HJ8-50B

Andrews-Comscope

Air Dielectric Coaxial Cable, corr copper, 3 in, black PE

jacket

468  1,996.00

Shipping Charge Shipping 1 1,000.00 1,000.00

Bank Info:

Bank of America, NC2-108-01-01

7911 Providence Road

Charlotte, NC 28277

Account#: 237005994405

Swiftcode: BOFAUS3N

Wire Routing # 026 009 593

ACH Routing # 0530 0019 6

*Customer Must Pay Wire Tranfer Fees*

$101,716.00

$101,716.00

$101,716.00

$0.00

$0.00

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 14 of 29
EXHIBIT 3 

FILE-MARKED UCC-1 FINANCING STATEMENT FOR EQUIPMENT FINANCE

AGREEMENT NO. 40467799 FILED WITH TEXAS SECRETARY OF STATE

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 15 of 29
UCC FINANCING STATEMENT 

FOLLOW INSTRUCTIONS 

A. NAME & PHONE OF CONTACT AT FILER (optional) 

csc 

B. E-MAIL CONTACT AT FILER (optional) 

C. SEND ACKNOWLEDGMENT TO: (Name and Address) 

Corporation Service Company 

251 LITTLE FALLS DRIVE 

Wilmington, DE 19808 

USA 

ORGANIZATION'S NAME 

c. MAILING ADDRESS 

FILING NUMBER: 21-0053337519 

FILING DATE: 12/01/2021 03:15 PM 

DOCUMENT NUMBER: 1098419890001 

FILED: Texas Secretary of State 

IMAGE GENERATED ELECTRONICALLY FOR XML FILING 

THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 

DITIONAL NAME(S)/INITIAL(S) 

OUNTRY 

3. SECURED PARTY'S NAME (or NAME of ASSIGNEE of ASSIGNOR SECURED PARTY) - Provide only one Secured Party name (3a or 3b) 

ORGANIZATION'S NAME 

OR 

CORPORATION SERVICE COMPANY, AS REPRESENTATIVE 

INDIVIDUAL'S SURNAME 

3c. MAILING ADDRESS 

PO BOX2576 

U CCSPREP@cscinfo.com 

RST PERSONAL NAME 

ITY 

Springfield 

. COLLATERAL: This financing statement covers the following collateral: 

1) RVR TRANSMITTER Serial Number:TX1 0KPS/G-0139 (1) ORBAN 2200 Serial 

umber:808122-011 (468) Audio Feed Line The equipment financed under Contract 

053897 listed above, whether now owned or hereafter acquired, together with all 

ersonal property installed in, affixed to or used in connection therewith and 

II present or future: (i) additions, accessories, accessions, attachments, 

arts, supplies, related software, intellectual property, rights, licenses and 

mprovements thereto; (ii) substitutions, renewals, replacements and purchase 

ptions thereof; (iii) insurance, warranty, and other third-party claims; (iv) 

ebtor's rights in connection with a third-party's use of such equipment under a 

ublease, rental or similar agreement; (v) proceeds and product in any form 

including but not limited to insurance and sale proceeds) of each of the 

oregoing, whether it be cash, non-cash or in any other form; and (vi) to the 

xtent the equipment identified herein is construed as or deemed inventory, that 

nventory and all accounts, accounts receivable, cash proceeds and all other 

roceeds related thereto or derived therefrom. 

heck Q!l)y if applicable and check Q!l)y one box: Collateral is in a Trust (see UCC1Ad, item 17 and Instructions) 

Check QD.]y if applicable and check QD.]y one box: 

Public-Finance Transaction r Manufactured-Home Transaction 

FILING OFFICE COPY 

OSTALCODE 

62708 

being administered by a Decedent's Personal Representative 

Check QD.]y if applicable and check QD.]y one box. 

gricultural Lien r Non-UCC Filing 

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 16 of 29
EXHIBIT 4 

EQUIPMENT ACCEPTANCE CERTIFICATE FOR EQUIPMENT FINANCE AGREEMENT NO. 40467799

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 17 of 29
EQUIPMENT ACCEPTANCE CERTIFICATE

This document (the Acceptance Certificate) is executed by High Plains Radio Network, L.L.C. (the Customer, also you or your) in favor of Amur 

Equipment Finance, Inc. and its successors and assigns (collectively, also we, us and our) and represents a Contract Document under the EFA, 

Lease or other financing agreement identified by the Contract Number above (the Contract). Any defined term not otherwise described herein shall 

have the same meaning ascribed to it in the Contract or the other Contract Documents defined therein. 

As of the Acceptance Date set forth below, you (i) unconditionally and irrevocably accept the equipment 

listed in the attached Schedule A, together with all records, manuals and instructions (the Equipment) and (ii) agree 

to be responsible for, perform and comply with, all of the Obligations, terms and conditions of the Contract Documents.

In connection with your acceptance of the Equipment, you acknowledge and agree as follows: 

1. You selected the Equipment, accept it AS IS and WE MAKE NO EXPRESS OR IMPLIED WARRANTIES WHATSOEVER AS TO ITS 

MERCHANTABILITY AND/OR FITNESS FOR A PARTICULAR PURPOSE; you selected any Software included with the Equipment, you assume 

all liability related to any unauthorized access or use of the Software and any Data collected, stored or used by it and we do not own or license 

any Software or Data nor have any duty to configure, maintain and/or otherwise safeguard them; YOU WAIVE AGAINST US, AND WE SHALL 

NOT BE LIABLE FOR, ANY CLAIM FOR LOSS, INJURY OR DAMAGE CAUSED BY THE EQUIPMENT, SOFTWARE AND/OR DATA, 

INCLUDING BUT NOT LIMITED TO, ALL SPECIAL, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR EXEMPLARY DAMAGES; and you shall 

look only to the vendor or manufacturer (not us) for any claim related to Equipment or Software, which shall not relieve you of any Payment or 

other Obligation under the Contract Documents. 

2. Neither the Equipment vendor nor any of its salespersons or other agents are agents of ours or authorized to waive or modify any term or condition 

of this document or the other Contract Documents. 

3. The Equipment has not been delivered, installed and/or accepted on a trial basis. 

Execution. This document may be signed manually or by electronic means and, when transmitted to us through any means (including electronic), 

shall be binding on you for all purposes as if manually signed. 

CUSTOMER High Plains Radio Network, L.L.C. 

Signature dl.signhere.2 

Name Monte Lee Spearman 

Title Member 

Acceptance Date dl.datesign.2 

-82:1547Ā.7;36893Ā0-)Ā%,-!& ""Ȁ/!"+Ȁ$ (+Ȁ*---Ȁ$-.'"$'+,#! 



1053897/367468

r---- GDocuSigned by: 

~~8A F~r~~ 

I l 

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 18 of 29
SCHEDULE A – COLLATERAL

Equipment 

Description VIN/Serial Number Equipment Location Vendor 

(1) RVR TRANSMITTER; (1) ORBAN 2200; 

(468) Audio Feed Line 

TX10KPS/G-0139, 

808122-011 

725 FM 2013, Friona, TX 79035 Process Technologies & Services, 

LLC 

-82:1547Ā.7;36893Ā0-)Ā%,-!& ""Ȁ/!"+Ȁ$ (+Ȁ*---Ȁ$-.'"$'+,#! 1053897/367468

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 19 of 29
EXHIBIT 5 

EQUIPMENT FINANCE AGREEMENT NO. 40478603

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 20 of 29
EQUIPMENT FINANCING AGREEMENT

Agreement # 17534-DIS-50187

“BORROWER”

FULL LEGAL NAME HIGH PLAINS RADIO NETWORK, L.L.C.

BILLING ADDRESS 3218 Quincy St

 

CITY Plainview STATE TX ZIP 79072-1906 

CONTACT Monte Lee Spearman TELEPHONE 970-255-3615

“SUPPLIER”

See Exhibit “A” Attached Hereto 

and Made A Part Hereof

QUANTITY FULL DESCRIPTION OF PROPERTY INCLUDING MODEL, SERIAL NUMBERS EQUIPMENT COST

See Exhibit “A” Attached Hereto and Made A Part Hereof

SEE DISBURSEMENT AUTHORIZATION 

ATTACHED HERETO AND MADE A PART HEREOF

PROPERTY LOCATION (IF DIFFERS FROM BILLING ADDRESS)

Street Address: 860 E 155 Road 

City: Mangum

State: OK Zip: 73554 

 

TERM OF LOAN AND PAYMENTS FIRST PAYMENT DATE: ______________ 

 ("Base Term Commencement Date”)

60 PAYMENTS OF $2,573.44 

FIRST PAYMENT

(CHECK FOR THIS AMOUNT MUST ACCOMPANY 

AGREEMENT)

FIRST PAYMENT $0.00

LAST PAYMENT $0.00 

LOAN FEE $395.00

TOTAL AMOUNT DUE: $395.00

TERMS OF EQUIPMENT FINANCING AGREEMENT ("Agreement")

Borrower and Secured Party agree as follows:

1. SECURITY INTEREST: Borrower hereby grants Secured Party a security under the Uniform Commercial Code in the above personal property (collectively the “Collateral” and individually an “Item” or 

“Item of Collateral”). Such security interest is granted to secure performance by Borrower of its obligations thereunder and under any other present or future agreement with Secured Party. Borrower shall 

insure that such security interest is and shall remain a sole first lien security interest. BORROWER HEREBY AUTHORIZES SECURED PARTY TO FILE A COPY OF THIS AGREEMENT AS A 

FINANCING STATEMENT AND APPOINTS SECURED PARTY OR ITS DESIGNEE AS BORROWER’S ATTORNEY-IN-FACT TO EXECUTE AND FILE, ON BORROWER’S BEHALF, FINANCING

STATEMENTS COVERING THE COLLATERAL.

2. PAYMENTS: Borrower shall repay Secured Party the above Total of Payments in the number of monthly installments of the amount indicated above. The initial installment payment shall be deemed 

due as of the Base Term Commencement Date and subsequent installment payments shall be due on the same day of each month thereafter until paid. The Base Term Commencement Date shall be

designated as the date of funding or another date selected by Borrower at the time of verbal or written verification to Secured Party. If Borrower selects a Base Term Commencement Date that is not 

the date of funding, then a pro-rata portion of the aggregated average of the installment payments based on a daily charge of one-thirtieth (1/30) of the installment payment calculated from 

the date of funding to Base Term Commencement Date shall be due and payable on the Base Term Commencement Date. All other amounts due thereunder shall be due upon Borrower’s receipt 

of Secured Party’s invoice therefor. Advance payments shall be applied to the last installment payments in reverse order until exhausted; provided that if there is a default, any payments under this 

agreement may be applied to Borrower’s obligations to Secured Party in such order as Secured Party chooses.

3. NO AGENCY. BORROWER ACKNOWLEDGES THAT NO SUPPLIER OF AN ITEM OR INTERMEDIARY, MANUFACTURER, DISTRIBUTOR, WHOLESALER, BROKER OR ANY OTHER PERSON 

OR ENTITY NOR ANY AGENT OF ANY OF THE FOREGOING PERSONS OR ENTITIES (collectively "Supplier") IS AN AGENT OF SECURED PARTY AND FURTHER THAT NONE OF SUCH 

PARTIES IS AUTHORIZED TO WAIVE OR ALTER ANY ITEM OR CONDITION OF THIS AGREEMENT. NO REPRESENTATION AS TO ANY MATTER BY ANY SUCH PARTY SHALL BIND SECURED 

PARTY OR AFFECT BORROWERS DUTY TO PAY THE INSTALLMENT PAYMENTS AND PERFORM ITS OTHER OBLIGATIONS THEREUNDER.

4. NON CANCELABLE AGREEMENT; THERE SHALL BE NO PREPAYMENT OR OFFSET TO THE TERMS OF THIS AGREEMENT AND THE PAYMENTS DUE HEREUNDER AND THIS 

AGREEMENT IS NON CANCELABLE BY BORROWER FOR ANY REASON WHATSOEVER. BORROWER MAY REPAY THE INSTALLMENT PAYMENTS ONLY IN ACCORDANCE HEREWITH. 

5. FINANCING. THIS AGREEMENT IS SOLELY AN EQUIPMENT FINANCING AGREEMENT. SEE ALL PAGES FOR ADDITIONAL TERMS AND CONDITIONS WHICH ARE PART OF THIS 

AGREEMENT. 

SECURED PARTY MAKES NO WARRANTY, EXPRESS OR IMPLIED, OR THAT THE EQUIPMENT IS FIT FOR A PARTICULAR PURPOSE OR THAT THE EQUIPMENT IS MERCHANTABLE. 

BORROWER AGREES THAT BORROWER HAS SELECTED THE SUPPLIER AND EACH ITEM OF EQUIPMENT BASED UPON BORROWER’S OWN JUDGMENT AND DISCLAIMS ANY RELIANCE 

UPON ANY STATEMENTS OR REPRESENTATIONS MADE BY SECURED PARTY. SECURED PARTY DOES NOT TAKE RESPONSIBILITY FOR THE INSTALLATION OR PERFORMANCE OF THE 

EQUIPMENT. THE SUPPLIER IS NOT AN AGENT OF SECURED PARTY AND NOTHING THE SUPPLIER STATES CAN AFFECT BORROWER’S OBLIGATION UNDER THE AGREEMENT. 

BORROWER WILL CONTINUE TO MAKE ALL PAYMENTS UNDER THIS AGREEMENT REGARDLESS OF ANY CLAIM OR COMPLAINT AGAINST SUPPLIER. This Agreement is effective only upon 

execution by an authorized officer of Secured Party following Borrower’s execution hereof, and upon execution Secured Party shall fund the Equipment Cost/Advanced. Borrower 

hereby authorizes Secured Party to Disburse the Equipment Cost/Advance as indicated on the attached Disbursement Authorization. Secured Party reserves the right to pay the applicable portion of the 

Equipment Cost/Advance jointly to any party not specified in the preceding sentence with a security interest in an Item of Collateral.

6. LOCATION; INSPECTION; USE. Borrower shall keep, or, as to an Item which is movable, permanently garage and not remove from the United States, as appropriate, each Item of Collateral in 

Borrower’s possession and control at the Collateral Location or at such other location to which such Item may have been moved with the prior written consent of Secured Party, Upon request, Borrower 

shall advise Secured Party as to the exact location of an Item of Collateral. Secured Party may inspect the Collateral during normal business hours and enter the premises where the Collateral may be 

located for such purposes. Each Item shall be used solely for commercial or business purposes and operated in a careful and proper manner and in compliance with all applicable governmental 

requirements, all requirements of insurance policies carried hereunder and all manufacturers’ instructions and warranty requirements.

7. ALTERATIONS; SECURITY INTEREST COVERAGE. Without Secured Party’s prior written consent, Borrower shall not make any alterations, additions or improvements to an Item of Collateral which 

detracts from its economic value or functional utility. All additions and improvements made to an Item shall be deemed accessions thereto, and shall not be removed if removal would impair the Item's 

economic value or functional utility. Secured Party's security interest shall cover all modifications, accessions, additions to and replacements and substitutions for the Collateral. Borrower will not make 

any replacements or substitutions without Secured Party's prior written consent.

8. MAINTENANCE. Borrower shall maintain the Collateral in good repair, condition and working order. Borrower shall cause all repairs required to maintain the Collateral in such condition to be made 

promptly by qualified parties. Borrower will cause each Item of Collateral for which a service contract is generally available to be covered by such a contract which provides coverage typical as to property 

of the type involved and is issued by a competent servicing entity.

9. LOSS AND DAMAGE; CASUALTY VALUE. In the event of loss, theft, destruction or requisition of or damage to an Item of Collateral from any cause Borrower shall give Secured Party prompt notice 

thereof and shall thereafter place the Item in good repair, condition and working order; provided, however, that if such Item is determined by Secured Party to be lost, stolen, destroyed or damaged beyond

repair or is requisitioned or suffers a constructive total loss under an insurance policy carried hereunder Borrower shall cause the Equipment to be replaced and shall immediately provide Secured Party 

with information necessary to perfect Secured Party’s security interest in the replacement Equipment, or shall pay Secured Party the "Casualty Value" of such Item which shall equal (a) any amounts due 

at the time of such payment, and (b) each future installment payment due with respect to such Item discounted at five percent (5%) per annum simple interest from the date due to the date of such 

payment.

10. TITLING. If requested by Secured Party, Borrower shall cause an Item of Collateral subject to title registration laws to be titled as directed by Secured Party. Borrower shall advise Secured Party 

promptly as to any necessary retitling. Borrower shall cause all documents of title to be furnished Secured Party within sixty (60) days of the date of any titling effected by Borrower.

11. TAXES AND FEES. Borrower agrees to pay when due all taxes (including personal property tax, fines and penalties) and fees relating to this Agreement or the Collateral. If we pay any of the above 

for you, you agree to reimburse us and to pay us a processing fee for each payment we make on your behalf. In addition, you also agree to pay us any filing fees prescribed by the Uniform Commercial

Code or other law and reimburse us for all costs and expenses involved in documenting and servicing this transaction. You further agree to pay us any loan fee as set forth above on the date the first 

payment due. You also acknowledge that in addition to the payments required to be made hereunder, we may assess and you may be required to pay additional taxes and/or fees. Such fees may not 

only cover our costs they may also include a profit.

12. INSURANCE. Collateral Protection and Insurance: You agree to keep the Collateral fully insured against loss with us as loss payee in an amount not less than the replacement cost 

until this Agreement is terminated. You also agree to obtain a general public liability insurance policy from anyone who is acceptable to us and to include us as an insured on the policy. 

You agree to provide us certificates binders, or other evidence of insurance acceptable to us, before this Agreement begins and within thirty (30) days thereafter provide us with the policies 

of insurance Should you fail to furnish insurance as set forth herein in the type and amounts requested, we may force place insurance and then charge you the amount of the forced 

placed insurance plus 20% to reflect our cost of funds and administrative costs. We shall be reimbursed within ten (10) days after an invoice is sent to you in the event that we had to force 

place insurance.

INITIAL ____________

Page 1 of 2

,7190436Ā-6:25782Ā/,(Ā,'% "%.Ȁ $#+Ȁ#.*)Ȁ*+#+Ȁ.!&# ,##-).+



THIS IS A COPY

The Authoritative Copy of this record is held at NA3.docusign.net

COPY VIEWeral” and individually a ral” and individual

nt with Secured Party. Borro th Secured Party. B

A COPY OF THIS AGREEMEN Y OF THIS AGREEM

E, ON BORROWER’S BEHALF, FINAN ON BORROWER’S BEHALF, F

ted above. The initial installment payment shall be deem ed above. The initial installment payment shall b

eafter until paid. T after until p he Base Term Commencement Date sha se Term Commencement Date

Borrower selects a Base Term Commencement Date th orrower selects a Base Term Commencement Date t EW

rge of one ge of one-thirtieth (1/30) of the installment payment cal thirtieth (1/30) of the installment pa IEW

Date. All other a other amounts due thereunder shall be due upon mounts due thereunder shall be due I

rder unt der il exhausted; provided that if there is a default, an l exhausted; provided that if there is a default, an

RY, MANUFACTURER, DISTRIBUTOR, WHOLESALER, B TURER, DISTRIBUTOR, WHOLESALER, B

ctively "Supplier") IS AN AGENT OF SECURED PARTY ively "Supplier") IS AN AGENT OF SECURED PARTY A

MENT. NO REPRESENTAT T. NO REPRESENTATION AS TO ANY MATTER BY A ION AS TO ANY MATTER BY

ERFORM ITS OTHER OBLIGATIONS THEREUNDER. S OTHER OBLIGATIONS THEREUN

OR OFFSET TO THE TERMS OF TH OFFSET TO THE TERMS OF THIS AGREEMENT

ATSOEVER. BORROWER MAY REPAY THE INSTALLME ER. BORROWER MAY REPAY THE IN

FINANCING AGREEMENT. SEE ALL PAGES FOR AD REEMENT. SEE ALL PAGES FOR AD

S OR IMPLIED, OR THAT THE EQUIPMENT IS FIT FOR OR IMPLIED, OR THAT THE EQ

LECTED THE SUPPLIER AND EACH ITEM OF EQUIPME ECTED THE SUPPLIER AND EACH ITE

ONS MADE BY SECURED PARTY. SECURED PARTY D S MADE BY SECURED PARTY. SECURE

N AGENT OF SECURED PARTY AND NOTHING THE OF SECURED PARTY AND NOTHING 

KE ALL PAYMENTS UNDER THIS AGREEMENT REGARD E ALL PAYMENTS UNDER THIS AGREEMENT REGAR

f Secured Party following Borrower’s execution hereof, and f Secured Party following Borrower’s 

rty to Disburse the Equipment Cost/Advance as indicated on to Disburse the Equipment Cost/A

ointly to any party not spe to any party not specified in the preceding sentence w cified in the pre

INSPECTION; USE. Bo NSPECTION; USE. Borrower shall keep, or, as to rrower shall keep, or, as to an Item

ossession and control at the Collateral Location or at such ossession and control at the Collateral Location or at suc

vise Secured Party as to the e e Secured Party as to the exact location of an Item of Co an It

ted for such purposes. Each Item shall be used solely fo or such purposes. Each Item shall be used so

uirements, all requirements of insurance policies carried ments, all requirements of insurance policies carrie

TERATIONS; SECURIT ERATIONS; SECURITY INTEREST COVE Y INTEREST COV

from its economic value or functional from its economic value or

value or functional utility. Secu value or functional utility

ements or substitutions wit ements or substitutions

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Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 21 of 29
13. SECURED PARTY'S PAYMENT. If Borrower fails to perform any of its obligations hereunder, Secured Party may perform such obligation, and Borrower shall (a) reimburse Secured 

Party the cost of such performance and (b) pay Secured Party the service charge contemplated in paragraph 20.

14. INDEMNITY. Borrower shall indemnify, defend and hold Secured Party harmless against any claim, action, liability or expense, including attorneys’ fees and court costs, incurred by Secured Party 

related to this Agreement and Secured Party's protection of its Collateral. While it is not anticipated that Secured Party shall have any liability for torts related to the Collateral, this indemnity covers tort 

proceedings including any strict liability claim, any claim under another theory related to latent or other defects and any patent, trademark or service mark infringement claim.

15. DEFAULT. Any of the following constitutes an event of default hereunder: (a) Borrower’s failure to pay any amount due hereunder, within five (5) days of when due; (b) Borrower’s default in 

performing any other obligation hereunder or under any agreement between Borrower and Secured Party; (c) death or judicial declaration of competency of Borrower, if an individual; (d) the filing by or 

against Borrower of a petition under the Bankruptcy Code or under any other insolvency law or law providing for the relief of Borrowers, including, without limitation, a petition for reorganization, agreement 

or extension; (e) the making of an assignment of a substantial portion of its assets by Borrower , appointment of a receiver or trustee for Borrower or for any Borrower’s assets, institution by or against 

Borrower of any other type of insolvency proceeding or other proceeding contemplating settlement claims against or winding up of the affairs of Borrower, Borrower’s cessation of active business affairs or 

the making by Borrower of a transfer of a material portion of Borrower’s assets or inventory not in the ordinary course of business; (f) the occurrence of an event described in (c), (d), or (e) s to a 

guarantor of other surety of Borrower’s obligations hereunder, (g) any misrepresentation of a material fact in connection herewith by or on behalf of Borrower; (h) Borrower’s default under any loan, lease, 

or agreement providing financial accommodation with a third party or (i) Secured Party shall in good faith deem itself insecure as a result of a material adverse change in Borrower’s financial condition or 

otherwise.

16. REMEDIES. Upon the occurrence of an event of default, Secured Party shall have the right, options, duties and remedies of a secured party, and Borrower shall have the rights and duties of a 

debtor, under the Uniform Commercial Code (regardless of whether such Code or a law similar thereto has been enacted in a jurisdiction wherein the rights or remedies are asserted) and in connection 

therewith Secured Party may: (a) declare the Casualty Value or such lesser amount as may be set by law immediately due and payable with respect to any or all Items of Collateral without notice or 

demand to Borrower; (b) take possession of and, if deemed appropriate, render unusable any or all Items of Collateral, without demand or notice, wherever located, without any process of law and without 

liability for any damages occasioned by such taking of possession including damages to contents; (c) require Borrower to assemble any or all Items of Collateral at a location in reasonable proximity to 

their designated location hereunder, (d) upon notice to Borrower required by law, sell or otherwise dispose of any Items of Collateral, whether or not in Secured Party’s possession, in a commercially 

reasonable manner at public or private sale and apply the net proceeds of such sale after deducting all costs of such sale, including, but not limited to, costs of transportation, repossession, storage, 

refurbishing, advertising and brokers fees, to the obligations of Borrower hereunder with Borrower remaining liable for any deficiency and with any excess being returned to Borrower or (e) utilize any other 

remedy available under the Uniform Commercial code or otherwise to Secured Party. All remedies are cumulative. Any sale may be adjourned by announcement at the time and place appointed for such 

sale without further published notice, and Secured Party may if permitted by law bid and become the purchaser at any such sale. Secured Party may conduct any public or private sale from Borrower's 

premises or location without any charge by Borrower.

17. LITIGATION AND OTHER EXPENSES. Borrower shall pay Secured Party its costs and expenses not offset as provided in paragraph 16, including repossession and attorneys' fees and court costs, 

incurred by Secured Party in enforcing this Agreement and in protecting its Collateral whether in State, Federal or Bankruptcy Court or other judicial or non-judicial tribunal including mediation, arbitration 

or judicial reference proceeding. This obligation includes the payment of such amounts whether an action is filed.

18. ASSIGNMENT. Without the prior written consent of Secured Party, Borrower shall not sell, finance or create or allow any lien other than Secured Party’s security interest against an Item of Collateral 

or assign any of Borrower's obligations hereunder. Borrower's obligations are not assignable by operation of law. Secured Party may assign, pledge or otherwise transfer any of its rights but none of its 

obligations hereunder without notice to Borrower. If Borrower is given notice of any such assignment, Borrower shall acknowledge receipt thereof in writing and shall thereafter pay any amounts due 

hereunder as directed in the notice regardless of whether Borrower acknowledges the assignment or not. The rights of an assignee to amounts due hereunder shall be free of any claims, offsets, actions 

or causes of action, or defense Borrower may have against Secured Party, and Borrower agrees not to assert against an assignee any claim or defense which Borrower may have against Secured Party.

Subject to the foregoing, this Agreement inures to the benefit of, and is binding upon, the heirs, legatees, personal representatives, successors and assigns of the parties.

19. MARKINGS; PERSONAL PROPERTY. Borrower shall mark the Collateral or its location as requested by Secured Party to indicate Secured Party's security interest. As between the parties the 

Collateral shall at all times be deemed personal. Borrower will provide Secured Party any real property waivers requested by Secured Party as to the real property where an Item of Collateral is or is to be 

located including, but not limited to, landlord's waivers and mortgagee waivers.

20. LATE PAYMENT. If Borrower fails to pay any amount to be paid hereunder within five (5) days of when due, Borrower will pay Secured Party (a) a late charge of 10% of the payment which is late or 

if less, the maximum charge allowed by law, (b) amounts Secured Party pays others in connection with the collection of the payment and (c) interest on such unpaid amount from the date due until paid at 

the lesser of eighteen percent (18%) per annum or the highest rate permitted by applicable law. No more than a single charge under subparagraph (a) will be due in any given month.

21. ADDITIONAL DOCUMENTS. Borrower shall provide to Secured Party such financing statements and similar documents as Secured Party shall request. Borrower authorizes Secured Party where 

permitted by law to make filings of such documents without Borrower's signature. Borrower further shall furnish Secured Party (a) a fiscal year-end financial statement including balance sheet and profit 

and loss statement within one hundred twenty (120) days of the close of each fiscal year and (b) such other information and documents not specifically mentioned herein relative to this agreement as 

Secured Party may request. Borrower shall reimburse Secured Party for all search and filing fees incurred by Secured Party related hereto.

22. NOTICES. Notices shall be in writing, and sufficient if mailed to the party involved, United States mail first class postage prepaid, at its respective address set forth above or at such other address as 

such party may provide on notice in accordance herewith. Notice so given shall be effective when mailed. Borrower shall promptly notify Secured Party of any change in Borrower's address.

23. GENERAL. This Agreement constitutes the entire agreement of the parties as to the subject matter and Borrower authorizes Secured Party to amend or insert in this agreement any serial numbers 

and other identification data about the Collateral, as well as any other omitted factual matters. Borrower shall not amend, alter or change the agreement without a written agreement signed by the parties. 

Any waiver by Secured Party must be in writing, and forbearance shall not constitute a waiver. Whenever the context of this Agreement requires, the neuter includes the masculine or feminine and the 

singular includes the plural. If there is more than one Borrower named in this agreement, the liability of each shall be joint and several. The titles to the paragraphs of this Agreement are solely for the 

convenience of the parties and are not an aid in the interpretation. This Agreement shall be governed by the internal laws for the State of California or in any jurisdiction where the Equipment or you are 

located in our sole and absolute discretion. You agree that this forum selection clause was negotiated and is material consideration for us entering into the Agreement with you. You also agree that the 

Agreement was entered into and made to be performed in the County of Orange, State of California and any lawsuit filed by you against us must be filed in the County of Orange, State of California. 

However, you agree that we will have the right to commence any action in any Court having the proper jurisdiction for that action. You agree and consent that we may serve legal papers on you by 

registered or certified mail, which shall be sufficient to obtain Jurisdiction. WE EACH KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE TRIAL BY JURY IN ANY ACTION BETWEEN US. IF 

FOR ANY REASON THIS JURY TRIAL WAIVER IS NOT ENFORCEABLE, THEN WE AGREE TO PROCEED BY JUDICIAL REFERENCE IN ACCORDANCE WITH CALIFORNIA CODE OF CIVIL 

PROCEDURE SECTION 638 ET. SEQ.. Any provision declared invalid shall be deemed severable from the remaining provisions which shall remain in full force and effect. Time is of the essence of this 

Agreement. The obligations of Borrower shall survive the release of the security interest in the Collateral.

24. BORROWER'S WARRANTIES. BORROWER CERTIFIES AND WARRANTS:(a) THE FINANCIAL AND OTHER INFORMATION WHICH BORROWER HAS SUBMITTED, OR WILL SUBMIT, TO 

SECURED PARTY IN CONNECTION WITH THIS AGREEMENT IS, OR SHALL BE AT TIME OF SUBMISSION, TRUE AND COMPLETE; (b) THIS AGREEMENT HAS BEEN DULY AUTHORIZED BY 

BORROWER AND UPON EXECUTION BY BORROWER SHALL CONSTITUTE THE LEGAL, VALID AND BINDING OBLIGATION, CONTRACT AND AGREEMENT OF BORROWER ENFORCEABLE

AGAINST BORROWER IN ACCORDANCE WITH ITS TERMS; AND (c) EACH SHOWING PROVIDED BY BORROWER IN CONNECTION HEREWITH MAY BE FULLY RELIED UPON BY SECURED 

PARTY NONWITHSTANDING ANY TECHNICAL DEFICIENCY IN ATTESTATION OR OTHERWISE. THE PERSON EXECUTING THIS AGREEMENT ON BEHALF OF BORROWER WARRANTS 

THAT PERSON'S DUE AUTHORITY TO DO SO. BORROWER FURTHER WARRANTS THAT EACH ITEM OF COLLATERAL SHALL AT THE TIME SECURED PARTY FUNDS THE TOTAL ADVANCE 

BE OWNED BY BORROWER FREE AND CLEAR OF LIENS OR ENCUMBRANCES AND BE IN GOOD CONDITION AND WORKING ORDER.

25. USED EQUIPMENT: If any equipment is used, Borrower unconditionally agrees: (a) Borrower finances the Equipment as is” and expressly acknowledges that the equipment is used 

and not new. Secured Party, NOT BEING THE VENDOR OF THE EQUIPMENT, NOR THE VENDOR’S AGENT, MAKES TO BORROWER NO WARRANTY OR REPRESENTATION, 

EXPRESS OR IMPLIED OF MERCHANTABILITY OR OTHERWISE, INCLUDING BUT NOT LIMITED TO: THE CONDITION, SAFENESS, USABILITY, REPAIR OR DESIGN OF THE 

EQUIPMENT OR ITS FITNESS FOR ANY PARTICULAR PURPOSE; THE QUALITY OR CAPACITY OF THE EQUIPMENT; THE WORKMANSHIP IN THE EQUIPMENT; THAT THE 

EQUIPMENT WILL SATISFY THE REQUIREMENTS OF ANY LAW, RULE, SPECIFICATION OR CONTRACT PERTAINING THERETO; AND ANY GUARANTY OR WARRANTY 

AGAINST PATENT INFRINGEMENT OR LATENT DEFECTS. (b) Secured Party is not responsible or liable for any direct, indirect, incidental or consequential damages or losses 

resulting from any cause whatsoever, including but not limited to; breach of warranty; the installation, operation or use of the Equipment or any products manufactured thereby, or delay or 

failure to deliver any item of Equipment. Borrower agrees to settle all such claims directly with Vendor and will not set up against Borrower’s obligations to Secured Party any such claims 

as a defense, counterclaim, setoff, or otherwise.

26. If this document was sent electronically: I hereby warrant that this document has not been altered in any way. Any alteration or revision to any part of this or any attached 

Documents will make all alterations or revisions non-binding and void. 

EFA# 17534-DIS-50187

Page 2 of 2

(SECURED PARTY) Hanmi Bank (BORROWER) HIGH PLAINS RADIO NETWORK, L.L.C.

By:_________________________________________ By: X_______________________________________

 Monte Lee Spearman, Member

DATE: ______________________ DATE: ______________________

,7190436Ā-6:25782Ā/,(Ā,'% "%.Ȁ $#+Ȁ#.*)Ȁ*+#+Ȁ.!&# ,##-).+


 

THIS IS A COPY

The Authoritative Copy of this record is held at NA3.docusign.net

COPY VIEWtorneys' fees and

al including mediation, al including mediati

’s security interest against an Item of Co s security interest against an Item o

r otherwise transfer any o otherwise transfer any f its rights but none but 

eof in writing and shall thereafter pay any amounts d of in writing and shall thereafter pay any am

ts due hereunder s due here shall be free of any claims, offsets, actio be free of any claims, offset

m or defense which Borrower may have against Secured Pa m or defense which Borrower may have against Secured

ccessors and assi and assigns of the parties. gns of the parties.

arty to indic to in ate Secured Party's security interest. As betwe e Secured Party's security interest. As b

ed by Secured Party as to the real prop by Secured Party as to the real erty where an Item of 

en due, Borrower willpay Secured Party (a) a late charge of ecured Party (a) a late charge o

h the collection of the payment and (c) interest on such unpa the collection of the payment and (c) interest on such unp

o more than a single charge under subparagraph (a) will be a single charge under subparagraph (a) will be

ing statements and similar documents as Secur g statements and similar documents a ed Party sh Party

Borrower further shall furnish Secured Part er further shall furnish Secured Party (a) a fiscal year y (a) a fiscal yea

fiscal year and (b) such other information and documents r and (b) such other information and d

search and filing fees incurred by Secured Party related he ng fees incurred by Secured Party relate

to the party involved, United States mail first class p arty involved, Unite ostage 

tice so given shall be effective when mailed. Borrower shall ce so given shall be effective w

tire agreement of the parties as re agreement of the parties as to the subje to the subject matter and Bo

, as well as any ot well as her omitted factual matters. Borrower sha mitted factual matters. Bo

riting, and forbearance shall not constitute a waiver. Whene orbearance shall not constitute a waiver. W

more than one Borrower named in this agreement, the liab

 not an aid in the interpretation. This Agreement shall be g not an aid in the interpretation. This

ute discretion. You agree that this forum selection clause wa discretion. You agree that this for

nto and made to be performed in the County of O d made to be performed in the Co range, S

that we will have the right to commence any action in any ll have the right to commence any a

tified mail, which shall be sufficient to obtain Jurisdiction. fied mail, which shall be sufficient to obtain Jurisdicti WE

EASON THIS JURY TRIAL WAIVER IS NOT ENFORCEA ON THIS JURY TRIAL WAIVER IS NOT ENFORCE

DURE SECTION 638 ET. SEQ. URE SECTION 638 ET. SEQ . Any provision declared inv n de

eement. The obligations of Borrower shall survive the relea nt. The obligations of Borrower shall survive the 

BORROWER'S WARRANTIES. BORROWER C ORROWER'S WARRANTIES. BORROWER C

RED PARTY IN CONNECTION WITH THIS ED PARTY IN CONNECTION WITH TH

WER AND UPON E WER XECUTION BY ECU

BORROWER IN ACCORDAN BORROWER IN ACCO

ONWITHSTANDING ANY NWITHSTANDING A

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Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 22 of 29
EXHIBIT “A” FOR AGREEMENT NO.: 17534-DIS-50187 

The following described equipment is being financed under the terms and conditions agreed to on 

Equipment Finance Agreement Number: 17534-DIS-50187 

Qty. Equipment Description Serial Number

Transmitters and studio control equipment further described on 

PT&S invoice 20220209E

 

This Exhibit “A” is hereby verified as correct by the undersigned Borrower.

Borrower: HIGH PLAINS RADIO NETWORK, L.L.C.

By: X _________________________

Title: Monte Lee Spearman, Member

Date: |______________________

A COPY OF THIS AGREEMENT WITH SIGNATURE SHALL BE CONSIDERED AN ORIGINAL.

Vendor Name: Process Technologies & Services, LLC

Street Address: 10612-D Providence Rd #716

City, State and Zip: Charlotte, NC 28277-0459

Vendor Phone:

Vendor Invoice Number: 20220209E

,7190436Ā-6:25782Ā/,(Ā,'% "%.Ȁ $#+Ȁ#.*)Ȁ*+#+Ȁ.!&# ,##-).+




THIS IS A COPY

The Authoritative Copy of this record is held at NA3.docusign.net

COPY VIEWSerial Number rial Number

escribed on scribed on EW VI PY O

Exhibit “A” is hereby verified as c Exhibit “A” is hereby verified as

rower: HIGH P C

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Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 23 of 29
EXHIBIT 6 

INVOICE FROM SUPPLIER FOR EQUIPMENT FINANCE AGREEMENT NO. 40478603

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 24 of 29
Invoice

Date

2/4/2022

Invoice #

20220209E

Bill To

High Plains Radio Network, LLC

PO Box 1478

Plainview, TX 79073

USA

Ship To

HPRN

860 E 155 Road

Magnum, OK 73554

USA

10612-D Providence Road, #716

Charlotte, NC 28277-0233

P.O. No. Payment

Due on receipt

Rep

PV

Ship Date

2/4/2022

Ship Via Incoterm

Thank you for your business.

Phone #

704-817-5950

Website: www.processtechgroup.com

Total USD

Balance Due

Subtotal USD

Sales Tax (0.0%)

Payments/Credits

Pierre vanDongen

Cell: 704-907-6505

pierre@processtechgroup.com

Item Description Qty Rate(USD) Amount

KEYB

Equip. Contenental Electrics

416D Transmitter

1 89,125.00 89,125.00

Equip. Bext

Fx1000 Broadcast Amplifier

1 8,936.00 8,936.00

Equip. RVR

RXRL-LCD 130-980 MHz

1 4,924.00 4,924.00

Equip. NiCom

STL Receiver RSL 900

1 3,985.00 3,985.00

Equip. TFT

STL Reciever 1.7 FHz - 140 MHz

1 3,922.00 3,922.00

Equip. NiCom

STL Transmitter TSL-910

2 3,899.00 7,798.00

Equip. Burk

ARC-16 Remonte Control Unit

1 2,785.00 2,785.00

Shipping Charge Shipping 1 1,000.00 1,000.00

Bank Info:

Bank of America, NC2-108-01-01

7911 Providence Road

Charlotte, NC 28277

Account#: 237005994405

Swiftcode: BOFAUS3N

Wire Routing # 026 009 593

ACH Routing # 0530 0019 6

*Customer Must Pay Wire Tranfer Fees*

$122,475.00

$122,475.00

$122,475.00

$0.00

$0.00

PT&S 

PTOCIII Tlohflolag/11 & s;,:J, < 

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 25 of 29
EXHIBIT 7 

FILE-MARKED COPY OF THE UCC-1 FINANCING STATEMENT FILED WITH OKLAHOMA 

COUNTY CLERK FOR EQUIPMENT FINANCE AGREEMENT NO. 40478603

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 26 of 29
UNOFFICIAL

UCC FINANCING STATEMENT 

FOLLOW INSTRUCTIONS 

A. NAME & PHONE OF CONTACT AT FILER (optional) 

Name: Wolters Kluwer Lien Solutions Phone: 800-331-3282 Fax: 818-662-4141 

B. E-MAIL CONTACT AT FILER (optional) 

uccfilingreturn@wolterskluwer.com 

C. SEND ACKNOWLEDGMENT TO: {Name and Address) 50066 - Hanmi Bank 

~ien Solutions 85144214 7 P.O. Box 29071 

Glendale, CA 91209-9071 OKOK 

!L 

File with: Oklahoma, OK 

_J 

2022030302021243 

03/03/2022 09:26:54 AM Pgs: 1 

Fee: $10.00 

Kerrie Hudson, Deputy County Clerk 

Oklahoma County - State of Oklahoma 

"-

~kl~ 

a 

~. C. 

~~ 

Ifi.2 

THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 

1. DEBTOR'S NAME: Provide only one Debtor name (1a or 1b) (use exact, full name; do not omit, modify, or abbreviate any part of the Debtor's name); if any part of the Individual Debtor's 

name will not fit in line 1 b, leave all of item 1 blank, check here D and provide the Individual Debtor information in item 10 of the Financing Statement Addendum (Form UCC1Ad) 

1a. ORGANIZATION'S NAME 

HIGH PLAINS RADIO NETWORK, L.L.C. 

OR 1b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)/INITIAL(S) SUFFIX 

1c. MAILING ADDRESS CITY STATE 

I 

POSTAL CODE COUNTRY 

3218 Quincy St Plainview TX 79072 USA 

2. DEBTOR'S NAME: Provide only one Debtor name (2a or 2b) (use exact, full name; do not omit, modify, or abbreviate any part of the Debtor's name); if any part of the Individual Debtor's 

name will not fit in line 2b, leave all of item 2 blank, check here D and provide the Individual Debtor information in item 10 of the Financing Statement Addendum (Form UCC1Ad) 

2a. ORGANIZATION'S NAME 

OR 2b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)/INITIAL(S) SUFFIX 

2c. MAILING ADDRESS CITY STATE I POSTAL CODE COUNTRY 

3. SECURED PARTY'S NAME (or NAME of ASSIGNEE of ASSIGNOR SECURED PARTY): Provide only one Secured Party name (3a or 3b) 

3a. ORGANIZATION'S NAME 

Hanmi Bank 

OR 3b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)/INITIAL(S) SUFFIX 

3c. MAILING ADDRESS CITY STATE 

I 

POSTAL CODE COUNTRY 

3660 Wilshire Blvd., PH A Los Anqeles CA 90010 USA 

4. COLLATERAL: This financing statement covers the following collateral: 

All equipment, subject to Agreement Number #17534-DIS-50187and subject to any and all existing and future schedules entered into pursuant to and 

incorporating said Agreement, together with all accessories, parts, attachments and appurtenances appearing or attached to any of the equipment in 

said Agreement and all substitutions, trade-ins, proceeds, insurance, renewals and replacements of, and improvements and accessions to the 

equipment in said Agreement. 

5. Check QillY. if applicable and checkQillY_ one box: Collateral is 0held in a Trust (see UCC1Ad, item 17 and Instructions) Obeing administered by a Decedent's Personal Representative 

6a. Check QillY. if applicable and check QillY. one box: 

D Public-Finance Transaction D Manufactured-Home Transaction D A Debtor is a Transmitting Utility 

7. ALTERNATIVE DESIGNATION (if applicable): D Lessee/Lessor D Consignee/Consignor D Seller/Buyer 

8. OPTIONAL FILER REFERENCE DATA: 

85144214 17534-DIS-50187 

FILING OFFICE COPY- UCC FINANCING STATEMENT (Form UCC1) (Rev. 04/20/11) 

6b. Check QillY. if applicable and check QillY. one box: 

D Agricultural Lien D Non-UCC Filing 

D Bailee/Bailor D Licensee/Licensor 

GELD 13 

Prepared by Lien Solutions, P.O. Box 29071, 

Glendale, CA 91209-9071 Tel (800) 331-3282 

-

= 

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 27 of 29
EXHIBIT 8 

DELIVERY AND ACCEPTANCE CERTIFICATE FOR EQUIPMENT FINANCE AGREEMENT NO. 40478603

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

Document Page 28 of 29
DELIVERY AND ACCEPTANCE CERTIFICATE

Agreement #: 17534-DIS-50187

By signing below, you, the Borrower, agree:

A) That all Equipment described in the Agreement identified above has been delivered, inspected, 

installed and is unconditionally and irrevocably accepted by you as satisfactory for all purposes of the 

Agreement; and

B) That we, Hanmi Bank, are authorized to purchase the Equipment and start billing you under the 

Agreement as set forth in Section 2.

C) That Borrower’s obligations under the Agreement are valid and enforceable and that Borrower's 

unconditional payment obligation shall commence immediately. 

D) That upon execution, the Commencement Date set forth in the Agreement shall be in force and 

effect. 

Date of Acceptance: ________________________

Agreement #: 17534-DIS-50187

Borrower: HIGH PLAINS RADIO NETWORK, L.L.C.

By: ________________________________

Monte Lee Spearman, Member

I hereby authorize _________________________ to orally verify my/our acceptance of the 

equipment subject to Equipment Finance Agreement #17534-DIS-50187 in my absence.

A COPY OF THIS DOCUMENT WITH SIGNATURE SHALL BE CONSIDERED TO BE AN ORIGINAL.

IMPORTANT: THIS DOCUMENT HAS LEGAL AND 

FINANCIAL CONSEQUENCES TO YOU. DO NOT SIGN 

THIS DOCUMENT UNTIL YOU HAVE ACTUALLY 

RECEIVED ALL OF THE EQUIPMENT AND ARE 

COMPLETELY SATISFIED WITH IT.

DocuSign Envelope ID: D960036F-054C-4FBA-BC4C-F2840D44EAFC

2/25/2022

THIS IS A COPY

The Authoritative Copy of this record is held at NA3.docusign.net

COPY VIEW

J;i HanmiBank 

■ 

Case 24-70089-swe11 Doc 53 Filed 04/13/24 Entered 04/13/24 20:31:23 Desc Main

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