Document:

<PAGE>

                                 EXHIBIT 10(x)

                          BUSINESS SECURITY AGREEMENT

                                 See attached.

                                Page 86 of 115

<PAGE>

[LOGO]

                         BUSINESS SECURITY AGREEMENT
                  (FOR USE WITH FIRSTAR LOAN DOCUMENTS ONLY)

     This Business Security Agreement ("AGREEMENT") is made and entered into
by the undersigned borrower, guarantor and/or other obligor/pledgor (the
"DEBTOR") in favor of FIRSTAR BANK, N.A. (the "BANK") as of the date set
forth on the last page of this Agreement.

                         ARTICLE I. SECURITY INTEREST

  1.1  Grant of Security Interest.  The Debtor hereby grants a security
interest in and collaterally assigns the Collateral (defined below) to the
Bank to secure all of the Debtor's Obligations (defined below) to the Bank.
The intent of the parties hereto is that the Collateral secures all
Obligations of the Debtor to the Bank, whether or not such Obligations exist
under this Agreement or any other agreements, whether now or hereafter
existing, between the Debtor and the Bank or in favor of the Bank, including,
without limitation, any note, any loan or security agreement, any lease, any
mortgage, deed of trust or other pledge of an interest in real or personal
property, any guaranty, any letter of credit or banker's acceptance, any
agreement for any other services or credit extended by the Bank to the Debtor
even though not specifically enumerated herein, and any other agreement with
the Bank (together and individually, the "LOAN DOCUMENTS").

  1.2  "COLLATERAL" means all of the following whether now owned or existing
or hereafter acquired by the Debtor (or by the Debtor with spouse), wherever
located (including all documents, general intangibles, additions and
accessions, spare and repair parts, special tools, replacements, returned or
repossessed goods and books and records relating to the following; and all
proceeds and products of the following) [CHECK ALL THAT APPLY]:

/X/   All accounts, instruments, documents, chattel paper, general
      intangibles, contract rights, all investment property (including any
      securities entitlements and/or securities accounts held by Debtor),
      securities and certificates of deposit, and all funds on deposit with
      and all property in the possession of the Bank or any other depository
      institution;

/X/   All inventory;

/X/   All equipment;

/ /   All fixtures; and

/ /   Specific Collateral (the following, whether constituting equipment,
      inventory or fixtures):

      -------------------------------------------------------------------------

      -------------------------------------------------------------------------

The terms set forth in this Agreement shall have the meanings set forth in
the Uniform Commercial Code as adopted in the state where the Bank's main
office is located, unless otherwise defined herein.

  1.3  "OBLIGATIONS" means all the Debtor's debts (except for consumer credit
if the Debtor is a natural person), liabilities, obligations, covenants,
warranties, and duties to the Bank (plus its affiliates including any credit
card debt due Firstar Bank U.S.A., N.A.), whether now or hereafter existing
or incurred, whether liquidated or unliquidated, whether absolute or
contingent, whether arising out of the Loan Documents or otherwise, and
regardless of whether such Obligations arise out of existing or future credit
granted by the Bank to any Debtor, to any Debtor and others, to others
guaranteed, endorsed or otherwise secured by any Debtor or to any
debtor-in-possession or other successor-in-interest of any Debtor, and
including principal, interest, fees, expenses and charges relating to any of
the foregoing.

                        ARTICLE II. WARRANTIES AND COVENANTS

In addition to all other warranties and covenants of the Debtor under the
Loan Documents which are expressly incorporated herein as part of this
Agreement and while any part of the credit granted the Debtor under the Loan
Documents is available or any Obligations of the Debtor to the Bank are
unpaid or outstanding, the Debtor continuously warrants and agrees as follows:

  2.1  DEBTOR'S NAME, LOCATION; NOTICE OF LOCATION CHANGES.  The Debtor's
name and organizational structure has remained the same during the past five
(5) years. The Debtor will continue to use only the name set forth with the
Debtor's signature unless the Debtor gives the Bank prior written notice of
any change. Furthermore, the Debtor shall not do business under another name
nor use any trade name without giving ten (10) days prior written notice to
the Bank. THE ADDRESS APPEARING IN SCHEDULE A BELOW is the Debtor's chief
executive office and principal place of business; and all Collateral shall be
located at such address or the other addresses listed on SCHEDULE A except to
the extent the Debtor has provided prior written notice to the Bank of any
change of address/new location. SCHEDULE A does not limit the Bank's rights
to Collateral wherever located.

  2.2  STATUS OF COLLATERAL.  All Collateral is genuine and validly existing.
Except for items of insignificant value or as otherwise reflected in writing
by the Debtor to the Bank under a borrowing base or otherwise, (i) Collateral
constituting inventory, equipment and fixtures is in good condition, not
obsolete and is either currently saleable  or usable; and (ii) Collateral
constituting accounts, contract rights, notes, chattel paper and other
third-party obligations to pay is fully enforceable in accordance with its
terms and not subject to return, dispute, setoff, credit allowance or
adjustment, except for discounts for prompt payment. Unless the Debtor
provides the Bank with written notice to the contrary, the Debtor has no
notice or knowledge of anything that would impair the ability of any
third-party obligor to pay any debt to the Debtor when due.

                                Page 87 of 115
<PAGE>

  2.3  OWNERSHIP; MAINTENANCE OF COLLATERAL; RESTRICTIONS ON LIENS AND
DISPOSITIONS. The Debtor is the sole owner of the Collateral free of all
liens, claims, other encumbrances and security interests except as permitted
in writing by the Bank. The Debtor shall: (i) maintain the Collateral in good
condition and repair (reasonable wear and tear excepted), and not permit its
value to be impaired; (ii) not permit waste, removal or loss of identity of
the Collateral; (iii) keep the Collateral free from all liens, executions,
attachments, claims, encumbrances and security interests (other than the
Bank's paramount security interest and those permitted in writing by the
Bank); (iv) defend the Collateral against all claims and legal proceedings by
persons other than the Bank; (v) pay and discharge when due all taxes, levies
and other charges or fees upon the Collateral except for payment of taxes
contested by the Debtor in good faith by appropriate proceedings so long as
no levy or lien has been imposed upon the Collateral; (vi) not lease, sell or
transfer the Collateral to any party nor move it to any new location outside
of the ordinary course of business; (vii) not permit the Collateral, without
the consent of the Bank, to become a fixture or an accession to other goods;
(viii) not permit the Collateral to be used in violation of any applicable
law, regulation or policy of insurance; and, (ix) as to the Collateral
consisting of instruments and chattel paper, preserve the Bank's rights in it
against all other parties. Notwithstanding the above, the Debtor may sell,
lease or transfer inventory in the ordinary course of its business provided
that no sale, lease or transfer shall include any transfer or sale in
satisfaction (partial or complete) of a debt owed by the Debtor; title will
not pass to buyer until the Debtor physically delivers the goods to buyer or
the Debtor ships the goods F.O.B. to buyer's destination; and sales and/or
leases to the Debtor's affiliates shall be for fair market value, cash on
delivery, with the proceeds remitted to the Bank.

  2.4  MAINTENANCE OF SECURITY INTEREST; PURCHASE MONEY SECURITY INTERESTS.
The Debtor shall take any action requested by the Bank to preserve the
Collateral and to establish the value of, the priority of, to perfect, to
continue the perfection of or to enforce the Bank's interest in the
Collateral and the Bank's rights under this Agreement; and shall pay all
costs and expenses related thereto. The Debtor and the Bank intend to
maintain the full effect of any purchase money security interest granted in
favor of the Bank notwithstanding the fact that the Collateral so purchased
is also pledged as security for other Obligations under the Loan Documents.

  2.5  COLLATERAL INSPECTIONS; MODIFICATIONS AND CHANGES IN COLLATERAL. At
reasonable times, the Bank may examine the Collateral and the Debtor's
records pertaining to it, wherever located, and make copies of such records
at the Debtor's expense; and the Debtor shall assist the Bank in so doing.
Without the Bank's prior written consent, the Debtor shall not alter, modify,
discount, extend, renew or cancel any Collateral, except for ordinary
discounts for prompt payment on accounts, physical modifications to the
inventory occurring in the manufacturing process or alterations to equipment
which do not materially affect its value. The Debtor shall promptly notify
the Bank in writing of any material change in the condition of the Collateral
and of any change in location of the Collateral.

  2.6  COLLATERAL RECORDS, REPORTS AND STATEMENTS. The Debtor shall keep
accurate and complete records respecting the Collateral in such form as the
Bank may approve. At such times as the Bank may require, the Debtor shall
furnish to the Bank any records/information the Bank might require,
including, without limitation, a statement certified by the Debtor and in
such form and containing such information as may be prescribed by the Bank
showing the current status and value of the Collateral.

  2.7  CHATTEL PAPER, INSTRUMENTS, ETC. Chattel paper, instruments, drafts,
notes, acceptances, and other documents which constitute Collateral shall be
on forms satisfactory to the Bank. The Debtor shall promptly mark chattel
paper to indicate conspicuously the Bank's security interest therein, shall
not deliver any chattel paper or negotiable instruments to any other entity
and, upon request, shall deliver all original chattel paper, instruments,
drafts, notes, acceptances and other documents which constitute Collateral to
the Bank.

  2.8  UNITED STATES GOVERNMENT CONTRACTS. If any accounts or contract rights
arose out of contracts with the United States or any of its departments,
agencies or instrumentalities, the Debtor shall promptly notify the Bank and
execute any writings required by the Bank so that all money due or to become
due under such contracts shall be assigned to the Bank under the Federal
Assignment of Claims Act.

  2.9  ENVIRONMENTAL MATTERS. Except as disclosed in a written schedule
attached to this Agreement (if no schedule is attached, there are no
exceptions), there exists no uncorrected violation by the Debtor of any
federal, state or local laws (including statutes, regulations, ordinances or
other governmental restrictions and requirements) relating to the discharge
of air pollutants, water pollutants or process waste water or otherwise
relating to the environment or Hazardous Substances as hereinafter defined,
whether such laws currently exist or are enacted in the future (collectively
"ENVIRONMENTAL LAWS"). The term "HAZARDOUS SUBSTANCES" shall mean any
hazardous or toxic wastes, chemicals or other substances, the generation,
possession or existence of which is prohibited or governed by any
Environmental Laws. The Debtor is not subject to any judgment, decree, order
or citation, or a party to (or threatened with) any litigation or
administrative proceeding, which asserts that the Debtor (i) has violated any
Environmental Laws; (ii) is required to clean up, remove or take remedial or
other action with respect to any Hazardous Substances (collectively "REMEDIAL
ACTION"); or (iii) is required to pay all or a portion of the cost of any
Remedial Action, as a potentially responsible party. There are not now, nor
to the Debtor's knowledge after reasonable investigation have there ever
been, any Hazardous Substances (or tanks or other facilities for the storage
of Hazardous Substances) stored, deposited, recycled or disposed of on, under
or at any real estate owned or occupied by the Debtor during the periods that
the Debtor owned or occupied such real estate, which if present on the real
estate or in soils or ground water, could require Remedial Action. To the
Debtor's knowledge, there are no proposed or pending changes in Environmental
Laws which would adversely affect the Debtor or its business, and there are
no conditions existing currently or likely to exist while the Loan Documents
are in effect which would subject the Debtor to Remedial Action or other
liability. The Debtor currently complies with and will continue to timely
comply with all applicable Environmental Laws; and will provide the Bank,
immediately upon receipt, copies of any correspondence, notice, complaint,
order or other document from any source asserting or alleging any
circumstance or condition which requires or may require a financial
contribution by the Debtor or Remedial Action or other response by or on the
part of the Debtor under Environmental Laws, or which seeks damages or civil,
criminal or punitive penalties from the Debtor for an alleged violation of
Environmental Laws.

  2.10 INSURANCE. The Debtor will maintain insurance to such extent, covering
such risks and with such insurers as is usual and customary for businesses
operating similar properties, and as is satisfactory to the Bank, including
insurance for fire and other risks insured against by extended or
comprehensive coverage, public liability insurance and workers' compensation
insurance; and will designate the Bank as loss payee with a "Lender's Loss
Payable" endorsement on any casualty policies and take such other action as
the Bank may reasonably request to ensure that the Bank will receive (subject
to no other interests) the insurance proceeds of the Collateral. The Debtor
hereby assigns all insurance proceeds to and irrevocably directs, while any
Obligations remain unpaid, any insurer to pay to the Bank the proceeds of all
such insurance and any premium refund; and authorizes the Bank to endorse the
Debtor's name to effect the same, to make, adjust or settle, in the Debtor's
name, any claim on any insurance policy relating to the Collateral; and, at
the option of the Bank, to apply such proceeds and refunds to the Obligations
or to restoration of the Collateral, returning any excess to the Debtor.

                                Page 88 of 115

<PAGE>

                           ARTICLE III. COLLECTIONS

3.1 DEPOSIT WITH THE BANK. At any time the Bank may require that all
proceeds of Collateral received by the Debtor shall be held by the Debtor
upon an express trust for the Bank, shall not be commingled with any other
funds or property of the Debtor and shall be turned over to the Bank in
precisely the form received (but endorsed by the Debtor, if necessary for
collection) not later than the business day following the day of their
receipt. All proceeds of Collateral received by the Bank directly or from the
Debtor shall be applied against the Obligations in such order and at such
times as the Bank shall determine.

                    ARTICLE IV. RIGHTS AND DUTIES OF THE BANK

     In addition to all other rights (including setoff) and duties of the
Bank under the Loan Documents which are expressly incorporated herein as a
part of this Agreement, the following provisions shall also apply:

4.1 AUTHORITY TO PERFORM FOR THE DEBTOR. The Debtor presently appoints any
officer of the Bank as the Debtor's attorney-in-fact (coupled with an
interest and irrevocable while any Obligations remain unpaid) to do any of
the following upon default by the Debtor hereunder (notwithstanding any
notice requirements or grace/cure periods under this or other agreements
between the Debtor and the Bank): (i) to endorse or place the name of the
Debtor on any invoice or document of title relating to accounts, drafts
against customers, notices to customers, notes, acceptances, assignments of
government contracts, instruments, financing statements, checks, drafts,
money orders, insurance claims or payments or other documents evidencing
payment or a security interest relating to the Collateral; (ii) to receive,
open and dispose of all mail addressed to the Debtor and to notify the Post
Office authorities to change the address for delivery of mail addressed to
the Debtor to an address designated by the Bank; (iii) to do all such other
acts and things necessary to carry out the Debtor's duties under this
Agreement and the other Loan Documents; and (iv) to perfect, protect and/or
realize upon the Bank's interest in the Collateral. If the Collateral
includes funds or property in depository accounts, the Debtor authorizes each
of its depository institutions to remit to the Bank, without liability to the
Debtor, all of the Debtor's funds on deposit with such institution upon
written direction by the Bank after default by the Debtor hereunder. All acts
by the Bank are hereby ratified and approved, and the Bank shall not be
liable for any acts of commission or omission, nor for any errors of judgment
or mistakes of fact or law.

4.2 VERIFICATION AND NOTIFICATION; BANK'S RIGHTS. The Bank may verify
Collateral in any manner, and the Debtor shall assist the Bank in so doing.
Upon the occurrence of a default hereunder, the Bank may at any time and the
Debtor shall, upon request of the Bank, notify the account debtors to make
payment directly to the Bank; and the Bank may enforce collection of, sell,
settle, compromise, extend or renew the indebtedness of such account debtors;
all without notice to or the consent of the Debtor. Until account debtors are
so notified, the Debtor, as agent of the Bank, shall make collections on the
Collateral. The Bank may at any time notify any bailee possessing Collateral
of the Bank's security interest and, upon the occurrence of a default
hereunder, direct such bailee to turn over the Collateral to the Bank.

4.3 COLLATERAL PRESERVATION. The Bank shall use reasonable care in the
custody and preservation of any Collateral in its physical possession but in
determining such standard of reasonable care, the Debtor expressly
acknowledges that the Bank has no duty to: (i) insure the Collateral against
hazards; (ii) ensure that the Collateral will not cause damage to property or
injury to third parties; (iii) protect it from seizure, theft or conversion
by third parties' claims or acts of God; (iv) give to the Debtor any notices
received by the Bank regarding the Collateral; (v) perfect or continue
perfection of any security interest in favor of the Debtor; (vi) perform any
services, complete any work-in-process or take any other action in connection
with the management or maintenance of the Collateral; or (vii) sue or
otherwise effect collection upon any accounts even if the Bank shall have
made a demand for payment upon individual account debtors. Notwithstanding
any failure by the Bank to use reasonable care in preserving the Collateral,
the Debtor agrees that the Bank shall not be liable for consequential or
special damages arising therefrom.

                        ARTICLE V. DEFAULTS AND REMEDIES

     The Bank may enforce its rights and remedies under this Agreement upon
default. A default shall occur if the Debtor fails to comply with the terms
of any Loan Documents (including this Agreement or any guaranty by the
Debtor), a demand for payment is made under a demand loan, or any other
obligor fails to comply with the terms of any Loan Documents for which the
Debtor has given the Bank a guaranty or pledge.

5.1 CUMULATIVE REMEDIES; NOTICE; WAIVER. In addition to the remedies for
default set forth in the Loan Documents, the Bank upon default shall have all
other rights and remedies for default provided by the Uniform Commercial
Code, as well as any other applicable law and this Agreement, INCLUDING,
WITHOUT LIMITATION, THE RIGHT TO REPOSSESS, RENDER UNUSABLE AND/OR DISPOSE OF
THE COLLATERAL WITHOUT JUDICIAL PROCESS. The rights and remedies specified
herein are cumulative and are not exclusive of any rights or remedies which
the Bank would otherwise have. With respect to such rights and remedies:

     (a) ASSEMBLING COLLATERAL; STORAGE; USE OF THE DEBTOR NAME/OTHER
         PROPERTY. The Bank may require the Debtor to assemble the Collateral
         and to make it available to the Bank at any convenient place
         designated by the Bank. The Debtor recognizes that the Bank will not
         have an adequate remedy in Law if this obligation is breached and
         accordingly, Debtor's obligation to assemble the Collateral shall be
         specifically enforceable. The Bank shall have the right to take
         immediate possession of said Collateral and the Debtor irrevocably
         authorizes the Bank to enter any of the premises wherever said
         Collateral shall be located, and to store, repair, maintain,
         assemble, manufacture, advertise and sell, lease or dispose of (by
         public sales or otherwise) the same on said premises until sold, all
         without charge or rent to the Bank. The Bank is hereby granted an
         irrevocable license to use, without charge, the Debtor's equipment,
         inventory, labels, patents, copyrights, franchises, names, trade
         secrets, trade names, trademarks and advertising matter and any
         property of a similar nature; and the Debtor's rights under all
         licenses and franchise agreements shall inure to the Bank's benefit.
         Further, the Debtor releases the Bank from obtaining a bond or
         surety with respect to any repossession and/or disposition of the
         Collateral.

     (b) NOTICE OF DISPOSITION. Written notice, when required by law, sent to
         any address of the Debtor in this Agreement, at least ten (10)
         calendar days (counting the day of sending) before the date of a
         proposed disposition of the Collateral is reasonable notice.
         Notification to account debtors by the Bank shall not be deemed a
         disposition of the Collateral.

                                Page 89 of 115
<PAGE>

     (c) POSSESSION OF COLLATERAL/COMMERCIAL REASONABLENESS. The Bank shall
         not, at any time, be obligated to either take or retain possession or
         control of the Collateral. With respect to Collateral in the
         possession or control of the Bank, the Debtor and the Bank agree
         that as a standard for determining commercial reasonableness, the
         Bank need not liquidate, collect, sell or otherwise dispose of any
         of the Collateral if the Bank believes, in good faith, that
         disposition of the Collateral would not be commercially reasonable,
         would subject the Bank to third-party claims or liability, that
         other potential purchasers could be attracted or that a better price
         could be obtained if the Bank held the Collateral for up to one
         year; and the Bank shall not then be deemed to have retained the
         Collateral in satisfaction of the Obligations. Furthermore, the Bank
         may sell the Collateral on credit (and reduce the Obligations only
         when payment is received from the buyer), at wholesale and/or with
         or without an agent or broker; and the Bank need not complete,
         process or repair the Collateral prior to disposition.

     (d) WAIVER BY THE BANK. The Bank may permit the Debtor to attempt to
         remedy any default without waiving its rights and remedies
         hereunder, and the Bank may waive any default without waiving any
         other subsequent or prior default by the Debtor. Furthermore, delay
         on the part of the Bank in exercising any right, power or privilege
         hereunder or at law shall not operate as a waiver thereof, nor shall
         any single or partial exercise of such right, power or privilege
         preclude other exercise thereof or the exercise of any other right,
         power or privilege. NO WAIVER OR SUSPENSION SHALL BE DEEMED TO HAVE
         OCCURRED UNLESS THE BANK HAS EXPRESSLY AGREED IN WRITING SPECIFYING
         SUCH WAIVER OR SUSPENSION.

                           ARTICLE VI. MISCELLANEOUS

     All other provisions in the Loan Documents are expressly incorporated as
a part of this Agreement.

     ALL DOCUMENTS ATTACHED HERETO, INCLUDING ANY APPENDICES, SCHEDULES,
RIDERS, AND EXHIBITS TO THIS AGREEMENT, ARE HEREBY EXPRESSLY INCORPORATED BY
REFERENCE.

     IN WITNESS WHEREOF, the undersigned has/have executed this BUSINESS
SECURITY AGREEMENT as of SEPTEMBER 26, 2000.

<TABLE>
<S>                                                                   <C>
(Individual Debtor)                                                   UNIVERSAL DISTRIBUTION LLC
                                                                      ------------------------------------------------------------
                                                                      Debtor Name (Organization)

                                                                      a NEBRASKA limited liability company
------------------------------------------------------(SEAL)          ------------------------------------------------------------

Debtor Name        N/A                                                By      /s/ Donald D. Heupel
            ------------------------------------------------          ------------------------------------------------------------

                                                                      Name and Title     Donald D. Heupel, President
                                                                      ------------------------------------------------------------
------------------------------------------------------(SEAL)
                                                                      By
                                                                      ------------------------------------------------------------

Debtor Name        N/A                                                Name and Title
            ------------------------------------------------                         ---------------------------------------------
</TABLE>

                                  SCHEDULE A

     IDENTIFICATION, CHIEF EXECUTIVE OFFICE AND COLLATERAL LOCATIONS LIST

<TABLE>
<S>                                                                  <C>
Taxpayer Identification Number:    91-1982658                        VIP FREEPORT
(or Social Security Number)     ----------------------------          ------------------------------------------------------------
                                                                      Name of Landlord or Warehouse (if applicable)
Address of Chief Executive Office:
                                                                      129 E LINDEN ST
405 DIAGONAL STREET/ PO BOX 190                                       ------------------------------------------------------------
----------------------------------
Street                                                                FREEPORT, IL 61032
                                                                      ------------------------------------------------------------
ALGONA, IA  50511-0190                                                City                 State                  Zip Code
----------------------------------
City         State        Zip Code                                    VIP ROCKFORD
                                                                      ------------------------------------------------------------
                                                                      Name of Landlord or Warehouse (if applicable)
Other Collateral Locations List
(Include name of third party (landlord, warehouse, etc.)              5048 AMERICAN ROAD
if applicable and collateral location address)                        ------------------------------------------------------------
                                                                      Street

                                                                      ROCKFORD, IL 61109
                                                                      ------------------------------------------------------------
                                                                      City                  State                 Zip Code

VIP DUBUQUE                                                           VIP PEORIA
----------------------------------                                    ------------------------------------------------------------
Name of Landlord or Warehouse (if applicable)                         Name of Landlord or Warehouse (if applicable)

2255 KERPER                                                           207 VORIS ST
----------------------------------                                    ------------------------------------------------------------
Street                                                                Street

DUBUQUE, IA 52001                                                     PEORIA, IL 61602
----------------------------------                                    ------------------------------------------------------------
City         State        Zip Code                                    City                  State                 Zip Code

</TABLE>

                                Page 90 of 115<PAGE>

                                 EXHIBIT 10(xi)

                        CONTINUING GUARANTY (UNLIMITED)

                                 See attached.

                                 Page 91 of 115

<PAGE>

[LOGO]

                        CONTINUING GUARANTY (UNLIMITED)

     1.   GUARANTEE.  For value received, and to induce FIRSTAR BANK, N.A.
(the "BANK") to extend or continue credit or other financial accommodations
now or in the future to RAINBO COMPANY LLC (the "BORROWER"), the undersigned
(the "GUARANTOR") hereby absolutely and unconditionally jointly and severally
guarantees prompt payment of and promises to pay or cause to be paid to the
Bank the Obligations (as hereinafter defined), whether or not the Obligations
are valid and enforceable against the Borrower, whenever the Obligations
become due, whether on demand, at maturity or by reason of acceleration, or
at the time the Borrower or the Guarantor shall become the subject of any
bankruptcy or insolvency proceeding.

     As used herein, the term "OBLIGATIONS" shall mean all loans, drafts,
overdrafts, checks, notes and all other debts, liabilities and obligations of
every kind owing by the Borrower to the Bank, whether direct or indirect,
absolute or contingent, liquidated or unliquidated whether of the same or a
different nature and whether existing now or in the future, including interest
thereon and all costs, expenses and reasonable attorneys' fees (including fees
of inside counsel) paid or incurred by the Bank at any time before or after
judgment in attempting to collect any of the foregoing, to realize on any
collateral securing any of the foregoing or this Guaranty, and to enforce this
Guaranty. The definition of "Obligations" also includes the amount of any
payments made to the Bank or another on behalf of the Borrower (including
payments resulting from liquidation of collateral) which are recovered from the
Bank by a trustee, receiver, creditor or other party pursuant to applicable
Federal or state law (the "SURRENDERED PAYMENTS"). In the event that the Bank
makes any Surrendered Payments (including pursuant to a negotiated settlement),
the Surrendered Payments shall immediately be reinstated as Obligations,
regardless of whether the Bank has surrendered or cancelled this Guaranty prior
to returning the Surrendered Payments.

     2.   CONSENT TO BANK ACTIONS; NO DISCHARGE. The Guarantee agrees that the
Bank does not have to take any steps whatsoever to realize upon any collateral
securing the Obligations, or to proceed against the Borrower or any other
guarantor or surety for the Obligations either before or after proceeding
against the Guarantor; and the Guarantor waives any claim of marshalling of
assets against the Bank or any collateral. The Guarantor also agrees that the
Bank may do or refrain from doing any of the following without notice to, or the
consent of, the Guarantor, without reducing or discharging the Guarantor's
liability under this Guaranty: (i) renew, amend, modify, extend or release any
existing or future Obligations (including making additional advances, or
changing the interest rate or amount, time or manner of payment of any
Obligations), and make additional extensions of credit to the Borrower (which
will become additional Obligations), regardless of when such modifications or
additional extensions of credit are made, and regardless of whether they are
similar to or different from any other Obligations; (ii) amend, supplement and
waive compliance with any of the provisions of documents evidencing or related
to any of the Obligations; (iii) settle, modify, release, compromise or
subordinate any Obligation, any collateral securing any Obligation or this
Guaranty, or the liability of any other party responsible for payment of any
Obligation; and (iv) accept partial payments, and apply any payments and all
other amounts received from the Borrower, from liquidation of any collateral or
from any other guarantor to the Obligations (or any other amounts due to the
Bank) in any manner that the Bank elects. The Guarantor also expressly agrees
that the Guarantor's liability will not be reduced or discharged by the Bank's
failure or delay in perfecting (or to continue perfection of) any security
interest, mortgage or other lien on any collateral securing the Obligations or
this Guaranty, or to protect the value or condition of any such collateral. THE
GUARANTOR SPECIFICALLY ACKNOWLEDGES THAT THIS GUARANTY COVERS ALL EXISTING AND
FUTURE OBLIGATIONS OF THE BORROWER TO THE BANK REGARDLESS OF THE AMOUNT OF THOSE
OBLIGATIONS; THAT THE BANK CAN MAKE ADDITIONAL EXTENSIONS OF CREDIT TO THE
BORROWER WITHOUT NOTIFYING THE GUARANTOR; AND THAT THE BANK CAN DEMAND PAYMENT
FROM AND IMPOSE LIABILITY ON THE GUARANTOR WITHOUT FIRST TRYING TO COLLECT FROM
THE BORROWER OR ANY OTHER GUARANTOR.

     3.   WAIVERS. The Guarantor expressly waives all rights of setoff and
counterclaims, as well as diligence in collection or prosecution, presentment,
demand of payment or performance, protest, notice of dishonor, nonpayment or
nonperformance of any Obligation. The Guarantor also expressly waives notice of
acceptance of this Guaranty, and the right to receive all other notices and
demands of any kind relating to the Obligations or this Guaranty. The Guarantor
agrees that any right of subrogation as to payment or enforcement of any
security interest securing the Obligations shall not be enforceable by any
Guarantor until the Bank is paid in full. In addition to, and not in
substitution or lieu of, all of the other waivers and releases contained herein
from the Guarantor, Guarantor hereby specifically, unconditionally and jointly
and severally waives any and all defenses predicated upon: (i) change of
ownership of any collateral covered by any mortgage or security agreement or
other security instrument securing the Obligations; (ii) acquiring additional
collateral; (iii) substitution of different collateral in exchange or exchanges
for part or parts of any original collateral; (iv) sale or other disposition,
either in whole or in part, of any collateral for the Obligations without notice
to the Guarantor pursuant to Uniform Commercial Code Section 9-504(3) or
otherwise; (v) the fact that there may be persons other than the Guarantor
solvent and responsible for the payment of the Obligations; (vi) release, death,
dissolution, liquidation or termination of the existence of the Borrower or any
other guarantor; (vii) an election of remedies; or (viii) any other defenses
based on suretyship or impairment of collateral.

     4.   FINANCIAL INFORMATION. The Guarantor warrants that all financial
information previously provided to the Bank was accurate when given, and that no
material adverse change has occurred in the Guarantor's financial status since
such information was given to the Bank. The Guarantor agrees to provide to the
Bank from time to time upon request any information regarding the Guarantor's
financial condition which the Bank reasonably requests; and without request, the
Guarantor will provide annual financial statements in form and content
satisfactory to the Bank within 60 days of the end of each year.

     5.   BORROWER'S FINANCIAL CONDITION. The Guarantor warrants and represents
to the Bank that (i) the Guarantor is sufficiently knowledgeable and experienced
in financial and business matters to evaluate and understand the risks assumed
in connection with the execution of this Guaranty; (ii) the Guarantor has had
the opportunity to examine the records, reports, financial statements, and other
information relating to the financial condition of the Borrower; (iii) the
Guarantor has relied solely upon investigations of the Borrower's financial
condition conducted by the Guarantor or the Guarantor's authorized
representative in deciding to execute this Guaranty; and (iv) the Guarantor, or
its authorized representative, shall continue to independently review, monitor
and investigate the financial condition of the Borrower while this Guaranty is
in effect. THE GUARANTOR SPECIFICALLY RELIEVES THE BANK OF ANY DUTY, OBLIGATION
OR RESPONSIBILITY OF ANY NATURE WHATSOEVER TO ADVISE THE GUARANTOR OF ANY CHANGE
IN THE BORROWER'S FINANCIAL CONDITION.

     6.   COLLATERAL; SETOFF. The Guarantor grants to the Bank a security
interest in all property in which the Guarantor has an ownership interest which
is now or in the future in the possession of the Bank to secure payment under
this Guaranty. The Guarantor hereby authorizes the Bank, without further notice
to anyone, to charge any account of the Guarantor for the amount of any and all
Obligations due under this Guaranty, and grants the Bank a contractual right to
set off (WITHOUT NOTICE OR DEMAND) amounts due hereunder against all depository
account balances, cash and other property now or hereafter in the possession of
the Bank and the right to refuse to allow withdrawals from any account
(collectively "SETOFF"). This Guaranty is also secured by any and all security
interests, pledges or liens now or hereafter in existence granted to the Bank to
secure indebtedness of the Guarantor to the Bank, including without

                                 Page 92 of 115

<PAGE>

imitation as described in the following documents:_____________________________
_____________________________________________________________________________.

     7.   DURATION OF GUARANTY; REVOCATION; CONTINUING OBLIGATIONS. This is a
continuing Guaranty and shall not be revoked by death, dissolution, merger,
bankruptcy, incompetency or insolvency of the Guarantor. This Guarantor shall
remain in full force and effect with respect to the Guarantor until the Bank
receives written notice from the Guarantor revoking this Guaranty as to the
Guarantor. In the event that this Guaranty is revoked by the Guarantor, said
revocation shall have no effect on the continuing liability of the Guarantor to
guarantee unconditionally the prompt payment of all Obligations which are
contracted or incurred before the revocation becomes effective, including such
prior Obligations which are subsequently renewed, modified or extended after the
revocation becomes effective, as well as all extensions of credit made after
revocation pursuant to commitments made prior to such revocation. Revocation of
this Guaranty by any Guarantor shall not relieve any other Guarantor of any
liability hereunder after the effective date of such revocation.

     8.   ACCELERATION OF OBLIGATIONS; SUCCESSORS; MULTIPLE GUARANTORS. If the
Guarantor shall die, become the subject of any incompetency proceedings, become
the subject of any bankruptcy or insolvency proceedings, or fail to comply with
the terms of this Guaranty, any document securing this guaranty or any related
document, the Guarantor's liability hereunder to pay the Obligations shall
become immediately due and payable whether or not the Obligations are then due
and payable by the Borrower or any other guarantor. This Guaranty shall inure to
the benefit of the Bank, its successors and assigns and of the holder and owner
of any of the Obligations, and shall be binding on heirs, executors,
administrators, successors and assigns of the Guarantor. If there is more than
one Guarantor, the liability of the Guarantors shall be joint and several, and
the reference to the "Guarantor" shall be deemed to refer to all Guarantors.

     9.   SEVERABILITY; PRIOR AGREEMENTS; AMENDMENT. Invalidity of any
provision of this Guaranty shall not affect the validity of any other
provision. This Guaranty, the collateral documents securing this Guaranty and
the documents evidencing the Obligations contain the entire agreement of the
parties regarding this matter; and any prior representations, promises or
agreements (whether oral or written) which are not a part of this Guaranty or
the documents described above are not enforceable. The terms of this Guaranty
may not be altered, amended or waived except by another written agreement
signed by the Guarantor and the Bank. Unless specifically limited in scope
this Guaranty shall not supersede any earlier guaranty of the Guarantor in
which the Bank has an interest nor shall any later guaranty supersede this
Guaranty. The effect of any earlier or later guaranty shall be cumulative
with this Guaranty.

     10.  COPIES; ENTIRE AGREEMENT; MODIFICATION. THE GUARANTOR HEREBY
ACKNOWLEDGES THE RECEIPT OF A COPY OF THIS GUARANTY. IMPORTANT: READ BEFORE
SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE
TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED
IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED. THE TERMS OF THIS AGREEMENT
MAY ONLY BE CHANGED BY ANOTHER WRITTEN AGREEMENT. THIS NOTICE SHALL ALSO BE
EFFECTIVE WITH RESPECT TO ALL OTHER CREDIT AGREEMENTS NOW IN EFFECT BETWEEN
GUARANTOR AND THE BANK. A MODIFICATION OF ANY OTHER CREDIT AGREEMENTS NOW IN
EFFECT BETWEEN GUARANTOR AND THE BANK, WHICH OCCURS AFTER RECEIPT BY GUARANTOR
OF THIS NOTICE, MAY BE MADE ONLY BY ANOTHER WRITTEN INSTRUMENT. ORAL OR IMPLIED
MODIFICATIONS TO SUCH CREDIT AGREEMENTS ARE NOT ENFORCEABLE AND SHOULD NOT BE
RELIED UPON.

     11.  GOVERNING LAW; JURISDICTION. This Guaranty shall be governed by the
internal laws of the State of Iowa, except to the extent superseded by Federal
law. THE GUARANTOR HEREBY CONSENTS TO THE EXCLUSIVE JURISDICTION OF ANY STATE OR
FEDERAL COURT SITUATED IN THE COUNTY OR FEDERAL JURISDICTION OF THE BANK'S
BRANCH WHERE THE LOAN WAS ORIGINATED, AND WAIVES ANY OBJECTION BASED ON FORUM
NON CONVENIENS, WITH REGARD TO ANY ACTIONS, CLAIMS, DISPUTES OR PROCEEDINGS
RELATING TO THIS GUARANTY, THE COLLATERAL, ANY RELATED DOCUMENT, OR ANY
TRANSACTIONS ARISING THEREFROM, OR ENFORCEMENT AND/OR INTERPRETATION OF ANY OF
THE FOREGOING. Nothing herein shall affect the Bank's right to serve process in
any manner permitted by law, or limit the Bank's right to bring proceedings
against the Guarantor in the competent courts of any other jurisdiction or
jurisdictions.

     12.  WAIVER OF JURY TRIAL. THE GUARANTOR AND THE BANK HEREBY JOINTLY AND
SEVERALLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING
RELATING TO THIS GUARANTY, ALL DOCUMENTS RELATING TO THIS GUARANTY, THE
OBLIGATIONS HEREUNDER OR ANY TRANSACTION ARISING HEREFROM OR CONNECTED HERETO.
THE GUARANTOR AND THE BANK EACH REPRESENTS TO THE OTHER THAT THIS WAIVER IS
KNOWINGLY, WILLINGLY AND VOLUNTARILY GIVEN.

Dated:    SEPTEMBER 26, 2000
      -------------------------

                                     UNIVERSAL MFG. CO.
                                     ------------------------------------------
(Individual Guarantor)               Guarantor Name (Organization)

                           (SEAL)    a NEBRASKA Corporation
----------------------------         ------------------------------------------

Guarantor Name          N/A          By /s/ Donald D. Heupel
              -------------------      ----------------------------------------

                           (SEAL)    Name and Title DONALD D. HEUPEL, PRESIDENT
----------------------------                        ---------------------------

Guarantor Name          N/A          By
              -------------------      ----------------------------------------

                                     Name and Title
                                                   ----------------------------

                                 Page 93 of 115

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