- Ag Docket
(debtors, potato farmers, borrowed money from bank with bank securing lien in debtors crops and equipment; debtors unable to repay 2009 crop loan due to crop disaster, and bank did not foreclose lien; debtors planted 2010 crop after getting input financing from other lenders and executed agreement that bank's forbearance did not constitute a new loan; proceeds from 2010 crop used to pay input loan suppliers with debtors then filing Chapter 12; debtors sought finding that bank did not have lien on remaining crop proceeds from 2010 crop, wanting to use those proceeds to plant 2011 crop; court found that bank's financing statements remained valid and effective under state statute that contemplated a crop "to be grown" in the future; thus, bank had lien in remaining proceeds from debtors' 2010 sweet potato crop; unless bank consented, debtor's proposal to "roll-over" 2010 proceeds to 2011 crop was not adequate protection for bank's interest in proceeds of 2010 crop).
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