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88- 103137 COLLATERAL ASSIGNMENT KNOW ALL MEN BY THES~ PRESENTS: For valuable consideration, the receipt and adequacy of which is hereby acknowledged, TRIAD PROPERTIES LIMITED PARTNERSHIP, a Nebraska Limited Partnership, (Assignor), does hereby sell, assign, transfer and deliver unto NORWEST BANK NEBRASKA, N.A., GRAND ISLAND, NEBRASKA, (Assignee), all of Assignor's right, title and interest in and to a certain Lease Agreement dated May 10, 1ge~, by and between the Assignor and Triad Fastener Corporation, a Nebraska corporation, which lease covers the following-described real estate situated in Hall County, Nebraska, to-wit: Lots Four (4), six (6) and Seven (7) in Argo Subdivision, AIda, in Section Five (5), Township Ten (10) North, Range Ten (10) West of the Sixth (6th) Principal Meridian, Hall County, Nebraska, together with all improvements situated thereon. Assianor warrants that as of the date hereof, said Lease Agreement~is in full force and effect, that the Lessee is not in default of any of the terms and conditions of the Lease Agree- ment, and that Assignor has the lawful right and authority to assign the said Lease Agrpement as provided herein. This assignment is given to secure the payment of indebted- ness evidenced by a certain promissory note executed by Assignor in favor of Assignee dated May 10, 1988, in the principal sum of Two Hundred Eighty Thousand and No/IOO Dollars ($280,000.00), together with interest at the rate or rates provided therein, or the ~rincipal and interest on any future advance as evidenced by prom1ssory notes stating they are secured hereby, and any and all renewals, modifications and extensions of such notes, both principal and interest on the notes being payable in accordance wi th the terms set forth therein, which by this reference is hereby made a part hereof. Notwi thstanding the other provisions of this Collateral Assignment, Lessee shall continue to make all rental or other payments to Lessor required by the Lease Agreement, unless and until Lessee receives a signed writing from Assignee notifying Lessee that the indebtedness which this Collateral Assignment secures is in default and directing Lessee to make all subsequent payments to Assignee, which Lessee shall then be bound to do. Upon the payment in full of the aforedescribed promissory note, Assignee shall thereupon release and reassign the afore- described Lease Agreement to Assignor, and this Collateral Assignment shall thereafter be deemed to be null and void. -1-