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COLLATERAL ASSIGNMENT OF LEASE 90- -105958 FOR AND IN CONSIDERATION of the sung of Six Hundred Thirty Thousand and No /100-- ---- -- -Dollars ($ 630,000.00 ) loaned to the undersigned, ggion D. Larsen and Inretta L. Wsen , hereinafter referred to as "e Assignor's does hereby sell, assign and transfer unto THE OVERLAND NATIONAL RANK OF GRAND ISLAND, hereinafter referred to as "Assignee ", all of Assignor's right, title and interest in and to a Real Estate Lease In respect to that real estate legally described as: Lots Seven ( ?), Eight (8), Nine (9) and Ten (10), in Block One (1), i Better Hanes Subdivision, an Addition to the City of Grand island, Hall County„ NE. SAND ASSIGNMENT BY THE UNDERSIGNED ASSIGNOR IS MADE SUBJECT TO T11£ FOLLOWING TERMS AND CONDITIONS: 1. This Assignment is given to secure the payment of the indebtedness described above and as security for such other sumR as may be hereafter advanced by Assignee to, or for the benefit of, the Assignor; provided, however, that in the event all indebtedness owing from the Assignor to the Assignee is well and truly paid. then this Assignment shall be void, otherwise to remain Im full force and effect. 2. It is the intention and agreement of the Assignor that this Assignment I shall also secure any future advances made to Assignor by Assignee and any and all indebtedness in addition to the amount stated above which said Assignor may owe to said Assignee, however evidenced, whether by note, book, account or otherwise. The undersigned also agrees that this Assignment shall secure all costs, charges and expenseR reasonably Incurred or paid by Assignee, including reasonable attorney fees, because of the failure of the undersigned to comply with the terms of the Notes evidencing such indebtedness or this Assignment. 3. So long as Assignor shall not be in default of the payments due to J Assignee in respect to indebtedness owing or in the performance of the require- ments of any instrument of security which may secure such indebtedness, Assignor i shall be entitled to collect and retain for his benefit all rents, from time to time accruing and received in respect to the Real Estate Lease herein assigned as security. 4. Upon default in the payment of any Rum clue in respect to the indebted - neas secured hereby or in the performance of the requirements of any instrument j of security which may secure such indebtedness, the Assignee may give immediate notice of this Assignment to the Tenant under such Lease and shall, from and i after the date of such notice, be authorized to receive and collect all such rents as may thereafter accrue and be due and payable to Assignor under the terms thereof. 5. The Assignor represents and warrants to the Assignee that the assigned 1 Real Estate Lease and rents therein provided has not been previously transferred or encumbered. 6. The Assignor will not, without the prior written consent of Lite Assignee. agree to or consent to or permit any amendment, modification, termination, assignment of or subletting under the Real Estate Lease herein assigned as I security. secur 1 7. All control and dominion over the rights and remedies of the Assignor I as Owner act forth in the Real Estate Lease Icereby assigned as security are transferred to the Assignee except that the Assignee may in writing specifically authorise the Assignor to act with respect thereto. S. The Assignor wit! keep and perfaim All the obligations to be perforate(; on the part of the Owner under the terms of the Real Estate Lease hrrcin acislaned as security and will save the Ast;Lgnee liarmless, iron any failure to do Ro. it being specifically understood that notwlthstand�ng this Assignment or any notice thereof, the Assignee shaii not be obligated to perform any of the obilgations on the part of the Assignor closing under such Real Estate Lease. IN WITNESS WHEREOF. the Assignor has executed this Collateral Assignment of Lease on this 15th ay of October , 19 9U on E DUMB r - e a CSTATE OF NEBRASKA) )SS COUNTY OF HALL ) LThe foregoing, Collateral Ar:sigi ment of I,eaRe was acknowledged before me this 15th day of OS.tok62r _ _. l9 W by hturic►n li. i_arst,n and Loretta L. Lwrt-wn "A4 ROTARY -$pq n �v Notary Public - RA(�EAN N, ! 7 � , Q. OL QCK 0, a ti