N MAIN ST
EVERLY IA
51338
WAYNE HOOVESTOL
B.
Collateral (Quantity, Description & Serial No.)
Equipment Description:
(and/or as described in invoice(s) or equipment list
attached hereto and made a part hereof collectively, the "Equipment")
Location:
701 N MAIN ST, EVERLY, IA 51338
C.
Schedule of Payments:
Initial
Term
(In Months)
Total Number
Of Payments
Amount of Each
Payment
Total Initial Payment
Total Advance
Amount
First:
$18,574.88
Doc. Fee:
$0.00
48
48
$18,574.88
Last:
$0.00
Deposit:
$0.00
$18,574.88
D.
DISCLAIMER OF WARRANTIES AND CLAIMS:
LIMITATION OF REMEDIES.
THERE ARE NO
WARRANTIES BY OR ON BEHALF OF SECURED PARTY AND NEITHER THE SUPPLIER NOR ANY
OTHER PARTY IS SECURED PARTY'S AGENT. DEBTOR ACKNOWLEDGES AND AGREES BY ITS
SIGNATURE BELOW AS FOLLOWS:
(A) SECURED PARTY MAKES NO WARRANTIES EITHER
EXPRESS OR IMPLIED AS TO THE CONDITION OF THE COLLATERAL, ITS MERCHANTABILITY,
ITS FITNESS OR SUITABILITY FOR ANY PARTICULAR PURPOSE, ITS DESIGN, ITS
CONDITION, ITS CAPACITY, ITS QUALITY, OR WITH RESPECT TO ANY CHARACTERISTICS OF
THE COLLATERAL; (B) DEBTOR ACCEPTS COLLATERAL "AS IS" AND WITH ALL FAULTS;
(C)
DEBTOR ACKNOWLEDGES THAT THE COLLATERAL WILL BE USED SOLELY FOR COMMERCIAL OR
BUSINESS PURPOSES; (D) IF THE COLLATERAL IS NOT PROPERLY INSTALLED, DOES NOT
OPERATE AS REPRESENTED OR WARRANTED BY THE SUPPLIER OR MANUFACTURER, OR IS
UNSATISFACTORY FOR ANY REASON, REGARDLESS OF CAUSE OR CONSEQUENCE, DEBTOR'S ONLY
REMEDY, IF ANY, SHALL BE AGAINST THE SUPPLIER OR MANUFACTURER OF THE COLLATERAL
AND NOT AGAINST SECURED PARTY; (E) DEBTOR SHALL HAVE NO REMEDY FOR CONSEQUENTIAL
OR INCIDENTAL DAMAGES AGAINST SECURED PARTY; AND (F) NO DEFECT, DAMAGE OR
UNFITNESS OF THE COLLATERAL FOR ANY PURPOSE SHALL RELIEVE DEBTOR OF THE
OBLIGATION TO MAKE PAYMENTS OR RELIEVE DEBTOR OF ANY OTHER OBLIGATION UNDER THIS
AGREEMENT.
E.
Amendments: No term or provision of this Agreement may be amended, altered,
waived or discharged except by a written instrument signed by all parties to
this Agreement.
THIS AGREEMENT, THE TERMS OF WHICH HAVE BEEN FREELY NEGOTIATED BY EACH PARTY, IS
SUBJECT TO THE TERMS AND CONDITIONS ON THE
REVERSE SIDE OR FOLLOWING PAGE WHICH ARE MADE A PART HEREOF AND WHICH DEBTOR AND
SECURED PARTY ACKNOWLEDGE THEY HAVE READ AND ACCEPTED.
BY EXECUTION OF THIS AGREEMENT, THE UNDERSIGNED HEREBY CERTIFIES THAT HE/SHE IS
AUTHORIZED BY DEBTOR TO APPROVE EQUIPMENT
AND TO APPROVE, EXECUTE AND DELIVER TO SECURED PARTY A FINANCE AGREEMENT AND
SUCH DOCUMENTATION AND ACTION
COVERING SUCH EQUIPENT AS NECESSARY TO EFFECTUATE AND PERFORM SUCH FINANCE
AGREEMENT.
THIS IS A NON-CANCELABLE AGREEMENT.
Secured Party:
AXIS CAPITAL INC
Debtor:
GREEN PLAINS GRAIN COMPANY LLC
By:
Gordon Glade
Signature:
S
/s/ Wayne Hoovestol
Title:
CEO
Title:
PRESIDENT
Guaranty:
In consideration of AXIS CAPITAL INC, its successors and assigns
("Secured Party"),
entering into this Financing Agreement ("Agreement"), the
part(ies) or individual(s) executing this Guaranty ("Guarantor," whether one or
more) unconditionally and irrevocably guaranty to Secured Party, the prompt
payment and performance of all obligations of the Debtor. Guarantor agrees that
this is a guaranty of payment and not of collection, and that Secured Party