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20010573/ C►
<br />ASSIGNMENT OF BONUSES, RENTALS AND ROYALTIES
<br />- OIL AND GAS -
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />THAT, WHEREAS, T & E Cattle Company, a Nebraska Corporation of 4444 West 13th
<br />Street, Grand Island, Nebraska, 68803, hereinafter called the "Owner ", have executed a Note to
<br />the METROPOLITAN LIFE INSURANCE COMPANY, of 1 Madison Avenue, New York, New
<br />York, hereinafter called the "Company ", in the amount of $455,000.00, dated March 14, 2001,
<br />secured by a First Mortgage of the same date covering the following described premises located in
<br />Hall County, Nebraska:
<br />SEE ATTACHED EXHIBIT "A" FOR LEGAL DESCRIPTION.
<br />AND, WHEREAS, said premises are now leased for oil and gas development, or are about
<br />to be so leased, and the Owner desires to assign to the Company all bonuses, delay rentals, royalties
<br />and other benefits accruing under said oil and gas lease(s), with the right at its option to demand
<br />and receive the same at any time and apply same on said Note and Mortgage and for taxes,
<br />insurance and repairs.
<br />NOW, THEREFORE, in consideration of the premises and the sum of $1.00, receipt of
<br />which is hereby acknowledged, the Owner assigns to the Company all bonuses, delay rentals,
<br />royalties and other benefits accruing under said oil and gas lease(s) and under all future oil and gas
<br />leases made during the term of the Mortgage with the right at its option to demand and receive the
<br />same at any time, and apply the same on said Note and Mortgage and for taxes, insurance and
<br />repairs.
<br />PROVIDED, HOWEVER, that all delay rentals and royalties are to be paid to the Owner
<br />until demand therefor is made of the legal holder(s) of such lease(s), evidenced by written notice
<br />that said delay rentals and royalties are to be paid to the Company at a place to be designated in said
<br />notice.
<br />The word "Mortgage" as used in this assignment shall be construed to include Deed of
<br />Trust. The word "Owner" shall be construed to mean the person, or persons, who execute this
<br />assignment as owner, whether one or more, and also the heirs, devisees, personal representatives,
<br />successors and assigns of the Owner. The word "Company" shall be construed to include the
<br />successors and assigns of the Company.
<br />This assignment is to remain in force during the term of said Note and Mortgage; and any
<br />renewal or extension thereof, and is to terminate and become null and void upon the release of said
<br />Mortgage.
<br />2001.
<br />IN WITNESS WHEREOF, the Owner has signed this instrument this 14th day of March,
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<br />20010573/ C►
<br />ASSIGNMENT OF BONUSES, RENTALS AND ROYALTIES
<br />- OIL AND GAS -
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />THAT, WHEREAS, T & E Cattle Company, a Nebraska Corporation of 4444 West 13th
<br />Street, Grand Island, Nebraska, 68803, hereinafter called the "Owner ", have executed a Note to
<br />the METROPOLITAN LIFE INSURANCE COMPANY, of 1 Madison Avenue, New York, New
<br />York, hereinafter called the "Company ", in the amount of $455,000.00, dated March 14, 2001,
<br />secured by a First Mortgage of the same date covering the following described premises located in
<br />Hall County, Nebraska:
<br />SEE ATTACHED EXHIBIT "A" FOR LEGAL DESCRIPTION.
<br />AND, WHEREAS, said premises are now leased for oil and gas development, or are about
<br />to be so leased, and the Owner desires to assign to the Company all bonuses, delay rentals, royalties
<br />and other benefits accruing under said oil and gas lease(s), with the right at its option to demand
<br />and receive the same at any time and apply same on said Note and Mortgage and for taxes,
<br />insurance and repairs.
<br />NOW, THEREFORE, in consideration of the premises and the sum of $1.00, receipt of
<br />which is hereby acknowledged, the Owner assigns to the Company all bonuses, delay rentals,
<br />royalties and other benefits accruing under said oil and gas lease(s) and under all future oil and gas
<br />leases made during the term of the Mortgage with the right at its option to demand and receive the
<br />same at any time, and apply the same on said Note and Mortgage and for taxes, insurance and
<br />repairs.
<br />PROVIDED, HOWEVER, that all delay rentals and royalties are to be paid to the Owner
<br />until demand therefor is made of the legal holder(s) of such lease(s), evidenced by written notice
<br />that said delay rentals and royalties are to be paid to the Company at a place to be designated in said
<br />notice.
<br />The word "Mortgage" as used in this assignment shall be construed to include Deed of
<br />Trust. The word "Owner" shall be construed to mean the person, or persons, who execute this
<br />assignment as owner, whether one or more, and also the heirs, devisees, personal representatives,
<br />successors and assigns of the Owner. The word "Company" shall be construed to include the
<br />successors and assigns of the Company.
<br />This assignment is to remain in force during the term of said Note and Mortgage; and any
<br />renewal or extension thereof, and is to terminate and become null and void upon the release of said
<br />Mortgage.
<br />2001.
<br />IN WITNESS WHEREOF, the Owner has signed this instrument this 14th day of March,
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