IN RE LEMLEY ESTATE BUSINESS TRUST

Bankruptcy Nos. 585-50185, 585-50184 and 585-50183, Adv. No. 586-5016.

65 B.R. 185 (1986)

In re LEMLEY ESTATE BUSINESS TRUST, Debtor. In re JANET LEMLEY BUSINESS TRUST, Debtor. In re LEMLEY-CABBINESS FARMS, a Partnership composed of Lemley Estate Business Trust and Janet Lemley Business Trust, Debtor. LEMLEY-CABBINESS FARMS, A Partnership, Janet Lemley Business Trust and Lemley Estate Business Trust, Plaintiffs, v. FEDERAL DEPOSIT INSURANCE CORPORATION et al., Defendant.

United States Bankruptcy Court, N.D. Texas, Lubbock Division.

September 19, 1986.


Attorney(s) appearing for the Case

Jim Walters, Walters & Associates, Lubbock, Tex., for Lemley-Cabbiness.

Linda J. Fargason, Brock, Morton, & Pigg, Lubbock, Tex., for FDIC.


MEMORANDUM OF DECISION CONCERNING CROP LIENS

JOHN C. AKARD, Bankruptcy Judge.

Statement of Facts

On or about January 16, 1984, Plainsman Agricultural Credit Corporation (PACC)1 loaned $356,865.00 to Noah Lemley. As collateral for its loan, PACC received (among other things) a Security Agreement on:

All farm supplies, farm products and crops: and all natural increase...

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