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COMMERCIAL SECURITY AGREEMENT

NON-NEGOTIABLE

NON-TRANSFERABLE

# 2010-133
Page

FILED FOR RECORD

I 0f 6

Parties

DEBTOR
Y^ouNG, MITCIIELL BRADLEy, oRGANTZATIoN, TRADE MARK/TRADE NAME (and a[ derivali\ cs rhereof) 509 COUNTY ROAD 2096

LIBERTY. TEXAS 77575


Social Security #

XXX-XX-6t53

Secured Parly

Mitchell B. Young (and all derivatives thereofl C/O i09 County Road 2096 near [ 77575 ] Liberfy. Texas

AGRf,EMF],NT
This secudty Agreement ("ACREEMENT") is made and entered into on December l4th 1946 by and belwcer lhc'real man' Mitchell B. young (h(reinaRer krown as Lhe Secured Partl t and the Jufljli( P(rsorustra$man Dumm) corpofation l\l|TCHE-LL youNc,
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oRcANlzATtoN

hereinarier kno$ n a5 Dr

BroR}sociar sccur;r1

nuri.r" iix-ix-iri:. ""'- "'

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BRADLEY

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NOry, THEREFORE.it is hereby agreed as tbllows:


In consideralion for the sccured Partv aqreeing to provide ceftain collateral and goods, identified hereinbcloN. ancl certain accommodations to the Debtor including' but nor limrte'<1 to. allJwingjrt. blgron ,o u"t for the purpose ol rransn)itting commercial activity for the "corn,-,"r"iat benefit ofthe secured Party to the extent that the context otherwise "" "gl*, "t'irir.a r"quii"a. ii,. ttr".pu.pose oiconduct;n-e tLafiilfn activity, as a pipelin for the transmission of goods and chattel properfy and paper: anl, as securlty payment 01'all .uni, du". o, io l""o,ne du. or owing by Debtor to secured Parry' Dbtor hereby grants to-seiured i'arty for uuiuoute a secudh inrerest in ihe collateral descrjbed hereinbelow and agrees to provide to Securid Pany the rndemnification ;i;" "onsioi*tion ,:;,;.;; rrre 'i'nceuteaness and agrees thall have the rights stated in this Agreement wit ,"rp."tio trr" in uaoition tu ,,ri nit'"r'.t-gt s..ur"o Furty "orrut"rur

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The security interest grallted herein secures any ancl all indebtedness and liabilities, whatsoever, owed by Dcblor to secured party whether direct or indir-ect' absolute or contingent. due or lo beiome due. norv existlng ot h"..;ft", *iring und ho*soeu". r:nlJra"u.iq, interest is also glven to secure any other debts which may be owed by Debtor to Secured party lrom time to time as stated "ui.lo,..r. h.rciD l)clow

intanPibles and accounts p.oceeds). togerher with all'the other reiand;;,i";;i p;G;;l";th alt and.singular the -runiar., -' improvements, wa)is, streets, alleys. ,uli"rao u.r"r, rights, libel.ties" privjleges, hereditaments. and .drivewayi. pu..ug".. appurtenances' whatsoever thereunto belonging, or in.any wise appe(aining. and the rev"ersions oncI I."n,ii,.,,teri-r"ents issues and profits thereof" and all estate right. title. interest. propgrty. claim and demand whatsiever ofthe said Debtor. in la\'. equity, or otherwise however, of. in and to rhe same and even, narr ihereof incl;ding but not timitea to itre iottowing; Certilicate ol.Birrh cloc.,Li6iny county Departmnt of Maternity Libertv Te\asl iit" * lgs' birth #1488;, Texas st. e"*";;ivit"r statistic3 #1685t6: r'".0, oriuJs Lic. +o 6733.752; Liberty county; and all documents and/or inslnrments created using saicl license numter; Social Security # xxx-xx-6153; and all documents and/or instruments created using said Social Serurity Number ani all proceJs ffr"r""i DEBTOR,S IJCC Contract e""oun,r, U. S. Treasury Accounts
and all proceeds thereof': and all documents and/or instrum"nts

AII Accounts' contract Rights. chanel Paper. General lntangibles, Inventory. Equipment and Fixlures: whethgr owned nolv or acquired later; all accessions. rdditions. replacernents, and substitution;-all records of ariy,kind ."ruting to unf,,r:ir.," i,r"gli"gluu p,o*"as (including tnsurance' bond general

cor-r-nrennr-

"re.rt"J

using saia Social Securitl' Numbcr. and all proceeds thereof used

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within said rreasury Accounts' ofDEBToR's oRGANIZATIoN, corporations. brsiness trusts and trusrs. Rear Estate Location; -si;"k Town or city: Hardin; counrv: Liberry: stater T*Tj AqqT-r-r: j02 c*"t" nJ'zosi, rinighrs Forest n*a, i."^., M, 18254; Land patent No: 2010000948; Quick clain Deed Noi ) oooag49; n"op"rty in'rlo, is254; Date Recorded: t/19/20i0: Name of owners and/or Lienholdersi Mirchell B. young/.toshua-B. young/Kelley D. you"ng, Wiff. o. lnheritances: will of ..E. l]. young..; Social Security Number: XXX-XX-6151: Passport No: 13525:226; llami: t-USA-youngiVit"f,.ff_Aru;f"y; Country of tssue: it"iiJ i?"L, of America; l,,Vehicte Registrationr Make: Dodge; Modelr Ram pick-up tnick; Yean 2606; ti; i.;. No # : eD7Kli26c66c2:ozo+, ei""" n"gistration: Town or city: Liberty; county: Libeftv: state: Teias; name of ownerls;: Nlet-iiu" ll", "r 14600040453101603: Registration: 97759641: plate No: 4xNl D: 2"d vehicle Registration: Make: ford: voaet: ncnger fict-ui,*.t, v.or, 2008: Vin t.D. N" jlTir'v'riq+rrspA393?t; ptace of Registration! N A: County: \ A: Slate: \,A: Name of O" *i.1,'N,e, 'f itf" l\o:..14610019J91 t025 t4: Regi\tration: N A. pla(e No: N,A; Jd vehicle Reqistration: Make: Harlev David-son; Model: motorcyci"' v"lr, jbos, vin I.D. No #r I r-rD l Llxi riivoizo6z, pr""" N/A: countv: N/A; state: N/A: Naine of. l/,q; riti! No, Nle; n"gi.t""tion, N/A: ptate No: NiA:,lih t;icte Registration: "rRegistration: Make: utilily trailer; Model: PT-8-2000: Year: 1998; vin l.D. No #: ^ownc.(s): lPgusosi'l wir Bl25; prace of Registration: N/A: co'nty: N/A; state: N/A: Name of owner(s): N/A; Title No: N/A; Rgistration: Nle; plate Noi r.lle; Personal property: 2004 Kubora tractor, nodet #500 L2g00 F #10292' serial#0413047111: 1977 celtic nobil-e home 68 X r+. io +ril:-id crzzoz+: IssT l-iicoin ,r"ir.."."a"i'sa-zoo-E r62. seriar #A398494; Bank & savings; Acct No: xxxx xxxx-00-40: eanl t'lu,ne: Liu",ty county Teacher"s l:cdenl credir union; Name on Acct; Mitcheil B Young; Acct rype: savings; Postal
Addresses:

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noao 2096, Liberty Texas 77575: p.o.llox 394. I-lardjn. Texas 7756i

INDEMNITY CLAUSE

and severally and

I' MITCHELL BRADLEY YouNG, (DEBTOR). am held iir.nrll, bound unto Mitchell young B. corarerar varues and unr: a.oi, ro,*r"iffi; ;; ;;;: ,,, ,iii i.;:;;r'"*. rhe commerciar Transaclions and Inveslmenls otarnrcwict iottat...i;t';;;.;r;i ", ;;orlunli,n;r.c Amounr {$ | rrJ,rrrredr jawr.ur rnone) olrhe r niled "r, states' for th payment of which. well and tru ly be made. I biJ ;tr;li .; heirs. executors, ua,,,,'in
(

Knorv all men by these presents, that secured panv) in rhe sum o. ore.enr

fimly

by these presents.

i.rr,,,,,,l

J,r'lrd

pany assigns, .jointly

The conditions ofthe above bond is. that whereas the collateral described hereinabove.and utilized lilr the puryose of rransmitting goocls in commercial Activity by the Debtor are in pursuance ofth" stutute. in ,u"h ruu", provided ancl inclcntLrred to the secured party by which indenture the said Debtor covenantedio do certain things a, .iu,.O i,iir,i,"u." ogr".,r,"nr. The condirions ofthis obligation are such lhat if llclled Party suf'fers any loss of vested Rights in rhe said collateral property or Monetary Losses due to debts claimed against the aforesaid cottaterat eropety, o.inJ o.t,o. who bi;ds himsclf b) ,rr;. to make advance pavments lion Debtor's U S Treasury Accounts. established r,io*'ivr', eMF,"iRop. "trig",io" ,. n"ii"ll"i,u,,,0 *.renr) accounts to any and all who make debt claims ;gainst any oittrc corlaterai or-v.r,J nigr,u in saia coltaterll ,,, s"i","cl p*y. rhis obligation shall bind the Debtor in arr respects. to ruty and f'aitrriurry co*p1u *itn ui uiir,li-o"ui. p,oui.ion. or tu*.

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This bond shall effect as ofthe date hereon and shall remain in full force and cffect until the surety (sccure.l party) is released from liabilitv by the writlen order ofthe UNITED STATES Governmen, ,'e pt""io"J Debtor may cancer this boncr at any time and be relieved of lurther ljabilitv hereunder br deliver'within tlirty ""4 1:0) days rhe secured party. such cancellition shall not effecr anv liability incurrdd or accrued bv Dehtrir hereuna", prio, to tt! t",mi""ii"" or:*ia riuy 130) day period. Thc Debtor wiI promptly reissue a *" *o orthe thiiv (30) dav period io, u,' un''o;;;;;;;i il'o"r'g";ut", *,un 1.,. vaiue ol this insr^rment unress the parties asree

ti"i iriti;;;;;;"

The Debtor (lndemnilying Party)' without the benefit ofdiscussion or division, does hereby agree, covenirnl and undertake to indemnif, defend and hold the Secured Party (tndemnified parry) harmless Aorrr and a;uin;;;;; and.all claiis. f"*"r. Li,,frifi,i", inrerests and expenses (hereinafter refened to as "claims" or a "claim;j incluaing. *itrl"ri r"rii"ii"r, ""ru. *ttred or incured legal costs, interests. p0""rii". n"., by lhe secured Parry arisinp as a r(sull ol lhc.stturco ",ro i1e ir. o.tr;;;i "'n \ irh respecL ro irr\ r,,in or generar indebLedness or the 1rr Debror includ ing' u ilhour inan)\\ayreslricring.rheg(n(raritlorth.tbregoinga'mounLor\ingb)

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The Indemnified Partv (secured Part\'/surety) shall promptly advise the Indemnifying party (Deblor) ol'arl cl?rim ancl provide the same with full details thereol ;;;; or a.tron received by or scNecl upon the Indemnified parrv .including copiei of any documcnt. (secured Partv) The Indemnifled Party isecured. Party) shail t'"liy \rirh rhe tndemnil)r,g Pnn; 1o"uto;i negotiations or other proceedings relating to any claim. """p"*t"

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OBLIGATIONS OF THE DEBTOR


Debtor warrants and covenants to Securd party as follows:

filr"jir"t$J[lt,"Debto,.is
AUTHoRIzATIoN'

a corporation, business trust or trust

which is duty organized. validly eristing. and in good standing under the

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The e\eculion' clelivery' and perfbrmance ofthis Agreement by Debrors have bccn duly authorized by all unvog'""'"nto,oir,",i"ii'"'i""'ii"ri"suponDebtoro,.(h)anl rarv.governmentar necessary regurarion.

b Derre- and continue Securid p"t,l,l i"","u i" irr";^;I,;...,'Ji delircr to Secured Panl an1 and ,rr or rr'. aocrr""t' .i;;;;.;;a';*:;l;ili',1! tn. cottrt.rut.
2

PERFECTIoN oF sEcuRtrY INTEREST. Debtor agrees to execute such financing.statements ind requested bv sccured Partv

and r)tr r,,r \\

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iI

1o

take whatever other actions are

party, Debtor

nore s(cured

panr.s inreresr

wi,