|
ât
<br />t
<br />ASSIGNMENT OF LEASES AND RENTS
<br />CD
<br />n cf)
<br />CD
<br />D
<br />T
<br />O â1
<br />Cn
<br />7
<br />>
<br />ac
<br />JtbL
<br />o
<br />O
<br />C
<br />y
<br />C
<br />CD
<br />ASSIGNMENT OF LEASES AND RENTS
<br />THIS ASSIGNMENT OF LEASES AND RENTS, dated as of May 31, 2001, is made by
<br />Global Industries, Inc., a Nebraska corporation ( "Borrower "), with an address at 2928 East
<br />Highway 30, Grand Island, Nebraska, 68801, as assignor, to and in favor of Wells Fargo Bank
<br />Nebraska, National Association, a national banking association ( "Lender "), with an address at
<br />1919 Douglas Street, Omaha, Nebraska 68102, as assignee (hereinafter, this "Assignment ").
<br />RECITALS
<br />WHEREAS, Borrower and Lender are parties to that certain Credit Agreement dated
<br />May 31, 2001, which sets forth the terms of certain credit facilities established by Lender in
<br />favor of Borrower (said Credit Agreement, as hereinafter amended or restated, the "Credit
<br />Agreement ");
<br />WHEREAS, Borrower's indebtedness to Lender pursuant to the Credit Agreement is
<br />evidenced by one or more promissory notes executed and delivered by Borrower in the original
<br />aggregate maximum principal amount of Thirteen Million Dollars ($13,000,000.00) (such notes,
<br />together with interest thereon, late charges; any future advances and all extensions,
<br />modifications, substitutions and renewals thereof, hereinafter collectively referred to as the
<br />"Notes "); and
<br />WHEREAS, the loans evidenced by the Notes will be secured, in part, by that certain
<br />Deed of Trust, Security Agreement and Fixture Financing Statement dated as of the date of the
<br />Notes (the "Deed of Trust ") between Borrower and Lender, encumbrancing the Trust Property,
<br />including the real property described on Exhibit "A" attached hereto and incorporated herein;
<br />and
<br />WHEREAS, in order to induce Lender to enter into the Credit Agreement and to make
<br />the loans evidenced by the Notes, Borrower has agreed to enter into this Assignment.
<br />AGREEMENT
<br />NOW, THEREFORE, in consideration of the foregoing and other good and valuable
<br />consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower hereby
<br />agrees as follows:
<br />DOCS 146914.3 1582098
<br />Grand Island
<br />CD
<br />n cf)
<br />CD
<br />rat
<br />_
<br />Fâ,
<br />O â1
<br />JtbL
<br />O
<br />C
<br />y
<br />CD
<br />Z
<br />O
<br />THIS ASSIGNMENT OF LEASES AND RENTS, dated as of May 31, 2001, is made by
<br />Global Industries, Inc., a Nebraska corporation ( "Borrower "), with an address at 2928 East
<br />Highway 30, Grand Island, Nebraska, 68801, as assignor, to and in favor of Wells Fargo Bank
<br />Nebraska, National Association, a national banking association ( "Lender "), with an address at
<br />1919 Douglas Street, Omaha, Nebraska 68102, as assignee (hereinafter, this "Assignment ").
<br />RECITALS
<br />WHEREAS, Borrower and Lender are parties to that certain Credit Agreement dated
<br />May 31, 2001, which sets forth the terms of certain credit facilities established by Lender in
<br />favor of Borrower (said Credit Agreement, as hereinafter amended or restated, the "Credit
<br />Agreement ");
<br />WHEREAS, Borrower's indebtedness to Lender pursuant to the Credit Agreement is
<br />evidenced by one or more promissory notes executed and delivered by Borrower in the original
<br />aggregate maximum principal amount of Thirteen Million Dollars ($13,000,000.00) (such notes,
<br />together with interest thereon, late charges; any future advances and all extensions,
<br />modifications, substitutions and renewals thereof, hereinafter collectively referred to as the
<br />"Notes "); and
<br />WHEREAS, the loans evidenced by the Notes will be secured, in part, by that certain
<br />Deed of Trust, Security Agreement and Fixture Financing Statement dated as of the date of the
<br />Notes (the "Deed of Trust ") between Borrower and Lender, encumbrancing the Trust Property,
<br />including the real property described on Exhibit "A" attached hereto and incorporated herein;
<br />and
<br />WHEREAS, in order to induce Lender to enter into the Credit Agreement and to make
<br />the loans evidenced by the Notes, Borrower has agreed to enter into this Assignment.
<br />AGREEMENT
<br />NOW, THEREFORE, in consideration of the foregoing and other good and valuable
<br />consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower hereby
<br />agrees as follows:
<br />DOCS 146914.3 1582098
<br />Grand Island
<br />
|