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<br />88- 1040aG <br />COLLATERAL ASSIGNMENT OF EQUITY IN <br />REAL ESTATE CONTRACT <br /> <br />For value received. MONTY HADENFELDT and MARY CAROL HADENFELDT, <br />husband and w'de, hereafter called Assignors, do hereby sell, BBsign and <br />set over to THE STATE BANK OF CAIRO, a Nebraska Banking Corporation, of <br />Cairo, Hall County, Nebraska, BB Assignee, hereinafter called Bank, all <br />of their right, title, interest and equity in a certain real estate <br />contract executed on MAY 14,1987, by DONNA M. RUIZ, BB seller, and by <br />MONTY HADEN FELDT as purchaser, for the sale of the fQllowing described <br />real estate: <br /> <br />A tract of land comprising a portion of the NW1I4 <br />of Section 36, Township 12 North, Range 12, West of <br />the 6th P.M., Hall County, NebrBBka, being more <br />particularly deacribed BB follows: With reference <br />to the Northwest corner of said NWl/4i thence <br />running on an assumed bearing of S 00 degrees 00' <br />OO"E on the West line of said NWl/4 for a distance <br />of 1270.08 feet to the actual POINT OF BEGINNINGi <br />thence continuing on aforesaid line S 00 degrees <br />00' OO"E for 568.06 feetj thence S 89 degrees 10' <br />17"E for 760.08 feeti thence N 00 degrees 00' OO"W <br />for 581.65 feet; thence S 89 degrees 48' 14"W for <br />760.00 feet to the POINT OF BEGINNING, said tract <br />containing 10.029 acres more or less, <br /> <br />4 1:l!?lfo <br /> <br />to have and to hold said contract unto The State Bank of Cairo so long <br />lIB a certain loan made by said bank to Assignors in the principal sum of <br />Sl'i',737.60. evidenced by a promissory note dated July 12, 1988 remains <br />unpaid in whole or in part. <br /> <br />This Assignment is made BB security for the repayment of said <br />loan and upon default by Assignor under the terms of said loan or under <br />the terms of said real estate contract, the bank at its option and upon <br />written notice to Assignors, may BBsume all benefits of Assignor under <br />the terms of said real estate contract. <br /> <br />It is understood and agreed that the Bank does not &Bsume any <br />liability for the performance of any of the terms of the real estate <br />contract unless the Bank shall do 80 in writing. <br /> <br />~m;:;C!~j;~;74 . 1t;J!m1 4J..}Jdb <br /> <br />Sta: of Nebraska) <br />) sa. <br />County of Hall ) <br /> <br />T.,~~~g ing in~t ument was acknowledged before me this <br />, _ _ z:J /989: by Monty Hadenfeldt and Mary Carol <br />Hadenfeldt u n and wife. <br /> <br /> <br />1J..-:-':;;'o;EIij ~~y~~ <br /> <br />L <br />