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<br /> ..' ( 82 <br /> - <br /> , <br /> . <br /> 2267 <br /> Prepared by the State Bar of Te:us for use by lawyers only. <br /> Revised 10-85: 5-92 <br /> C 19&.5, I99Z by tile s.- 11M olT.... <br /> SECURITY AGREEMENT <br /> Date: <br /> Debtor: Proseed (U.S.A.), Inc. <br /> Debtor's Mailing Address (including county): 1800 I.H. 35 South, Hays County, <br /> ¡ San Marcos, TX 78666 <br /> Secured Party: City of San Marcos <br /> Secured Party's Mailing Address (including county): 630 E. Hopkins, Hays County, <br /> San Marcos, TX 78666 <br /> Classification of Collateral: equipment that may become a fixture <br /> Collateral (including all accessions): Mulch Roll Production Unit (1A..RPU-l) <br /> custom built in 1989, Replacement cost: $200,000.00 <br /> . <br /> Obligation <br /> Note <br /> Date: <br /> Amount: $75,000.00 <br /> Maker: Proseed (U.S.A.), Inc. <br /> Payee: City of San Marcos <br /> Final Maturity Date: 5 years from executi?n of Equipment Lien Note <br /> Terms of Payment (optional): Paid in regular installments according to terms <br /> provided in the note. <br /> Other Obligation: Debtor is to conply with the terms and conditions of an <br /> Economic Development Agreement with the secured party of <br /> Debtor's Representation èg.nc~rXï~r~~~~ offi1iât~ i(-ÓþrionaI): <br /> 1800 I.H. 35 South <br /> San Marcos <br /> Hays County <br /> Texas, 78666 <br /> Subject to the terms of this agreement, Debtor grants to Secured Party a security interest in the collateral -and-aH-it3 <br /> proce-ed$"to secure payment and performance of Debtor's obligation in this security agreement and all renewals and <br /> extensions of any of the obligation. <br /> CI 1992 STATE BAR OF TEXAS <br />