Opinion ID: 3172235
Heading Depth: 3
Heading Rank: 3

Heading: One of the following conditions is met:

Text: (1) The debtor has authenticated a security agreement that provides a description of the collateral and, if the security interest covers timber to be cut, a description of the land concerned;” [¶29] It is unnecessary to determine whether statements the district court made in a pretrial ruling constituted improper reliance on the federal court decision. The district court’s final decision referenced PHI’s financing statement and found “PHI perfected the security interest by filing a UCC-1 financing statement in the office of the North Dakota Secretary of State on September 5, 2008.” PHI’s financing statement provided: “The Financing Statement to which this addendum is attached covers the types (and items) of property indicated below that Debtor owns or has sufficient rights in which to transfer an interest, now or in the future, wherever the property is or will be located, and all proceeds and products of the property . . . : . . . . “Government Payments and Programs: All payments, accounts, general intangibles, and benefits including, but not limited to, payments in kind, deficiency payments, letters of entitlement, warehouse receipts, storage payments, emergency assistance and diversion payments, production flexibility contracts, and conservation reserve payments under any preexisting, current, or future federal or state government program.” [¶30] Johnston argues that because PHI failed to identify the Texas crops in its financing statement there was no perfected security interest in those crops or the SURE payment received after the crops were destroyed. The problem with Johnston’s argument, discussed below in section VI, is that crops or their proceeds are not the collateral at issue. Rather, government payments are the disputed collateral and the financing statement sufficiently describes the government SURE payment. We conclude PHI’s security interest was properly perfected.