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20000862` NOW THEREFORE, in consideration of the sum of $10.00 and other good and valuable consideration in had paid the receipt and sufficiency of which are hereby acknowledged the parties agree as follows: 1. Recitals. The foregoing Recitals are true and correct and are an integral part of this Agreement. 2. Cross - Default. Notwithstanding anything to the contrary in any document evidencing or securing the respective Loans, the Borrowers acknowledge and agree that a default under the terms and conditions of any of the documents evidencing or securing any one of the Loans shall constitute a default under each and every one of the Loans. 3. Cross - Collateralization. Notwithstanding anything to the contrary in any document evidencing or securing the respective Loans, each of the properties comprising the Collateral shall secure all of the Loans, and in the event of a default under any of the Loans the Lender may, at its election, exercise any and all rights under any of the loan documents pertaining to the Loans, including but not limited to a foreclosure on any or all of the Collateral, and apply any funds realized as a result of such an action against the indebtedness then outstanding on the Loans in such manner Lender may determine. 4. Binding Effect. ffect. The terms and conditions of this Agreement shall be binding upon and inure to the benefit of the parties hereto, their respective successors and assigns. 5. Termination. This Agreement shall terminate and be of no further force or effect upon the full repayment of the Loans. 6. Controlling Law. This Agreement shall be governed by the laws (without regard to the choice of law principles) of the Sate of Iowa, save and except for the application of Nebraska law to the extent required under the Grand Island loan documents. 7. Attorneys Fees and Costs. In the event any party to this Agreement is required to take any legal action to enforce the terms and conditions of this Agreement the prevailing party shall be entitled to recover all costs and reasonable attorney fees incurred therein including but not limited to costs and attorneys fees incurred in any appellate, bankruptcy or post judgment enforcement proceeding. 8. Counterparts. This Agreement may be signed in counterparts and by facsimile signature and all such counterparts, when properly executed by the appropriate parties thereto, shall serve as a fully executed document binding upon the parties. 2.