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COLLATERAL ASSIGNMENT KNOW ALL MEN BY THESE PRESENTS: That JOHN PREISENDORF, JR. and MARILYN PREISENDORF, husband and wife, (Assignors), for valuable consideration, the adequacy and receipt of which is hereby acknowledged, do hereby sell, assign, transfer and deliver unto THE OVERLAND NATIONAL BANK OF GRAND ISLAND, Grand Island, Nebraska, (Assignee), all of their right, title and interest in and to a certain Land Contract, dated June Assignors, as Sellers, and Mike Galvan -dui 1 Galy n between Vicente Cabreal, as Buyers° in connection with the real estate described on the attached Exhibit "A ". A fully said Land Contract is attached hereto as Exhibit execute "B" and is of incorporated herein and made a part hereof by this reference. Assignors warrant that they are the lawful owners of said Land Contract and the real estate subject thereto, that the carne are free from any liens or encumbrances, and that they have good and lawful authority to assign the said Land Contract as provided herein. This assignment is given following described promissory National Bank of Grand Island, Assignors, to -wit: Date of Note July 31, 1984 June 1, 1984 May 13, 1985 May 13, 1985 to secure the payment of the notes owing to The Overland Grand Island, Nebraska, from Principal Amount Due S 40,000.00 $315,000.00 $139,000.00 $156,000.00 Upon the payment in full of the aforedescribed promissory notes, Assignee shall thereupon release and reassign the aforedescribed Land Contract to Assignors and this Collateral Assignment shall thereafter be deemed to be null and void. It is further agreed that this Collateral Assignment shall be binding upon the parties hereto and upon their heirs, succes- sors and personal representatives forever. Dated this 11 Sf-. day of June, JoY�n Pr zsendorf Jr.. r�. yn e. 0_isendor L__