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• <br /> • <br /> ASSIGNNENT OF LEASE <br /> KNOW ALL NEN BY THESE PRESENTS, that <br /> WHEREAS, Mark Properties, Inc. , a corporation of the State <br /> of Nebraska, having its principal office and place of business in <br /> the City of New York and State of New York, hereinafter sometimes <br /> referred to as "Owner, " is the present owner in fee simple of the <br /> property briefly described as: 309 West Third Street, Grand Island, <br /> Nebraska; <br /> AND WHEREAS, Empire Trust Company, a corporation of the <br /> State of New York, having its principal office in the City of New <br /> York, hereinafter sometimes referred to as "Empire, is about to <br /> become the owner and holder of a first mortgage executed by Owner, <br /> covering the said property, which mortgage secures a note in the <br /> principal sum of Three Hundred Fourteen Thousand Six Hundred Dollars <br /> ( 314, 00.00) ; and <br /> WHEREAS, all of said mortgaged premises has been demised <br /> to F. Woolworth Co. , a corporation of the State of New York, under <br /> lease dated June 29, 1954, hereinafter referred to as the "Lease, " <br /> and <br /> WHEREAS, Empire, as a condition to making the aforesaid <br /> mortgage loan, has required an assignment of the said Lease as addi- <br /> tional security for said mortgage loan. <br /> NOW, THEREFORE, THESE PRESENTS -WITNESS, that in considera- <br /> tion of the foregoing and of the sum of One Dollar (4.00) paid by <br /> Empire to Owner, the receipt whereof is hereby acknowledged by <br /> Owner, the said Owner hereby assigns, transfers and sets over unto <br /> Empire the said lease, as additional security; and for the considera- <br /> tion aforesaid, the Owner hereby covenants and agrees to and with <br /> Empire that it will not, without the written consent of Empire <br /> (a) Cancel said lease or accept a surrender thereof unless <br /> the owner and said F. W. Woolworth Co. shall execute <br /> a new lease which shall go into effect prior to or <br /> simultaneously with said cancellation and surrender, <br /> said new lease to provide for a rental not less than <br /> the rent payable under the cancelled lease and which <br /> shall not diminish the tenant's obligation to pay <br /> taxes and insurance to the extent that such obliga- <br /> tions may exist under the cancelled lease, and which <br />