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r <br />IN <br />-2- G.P - 003891 <br />Farms, Inc., a Nebraska corporation, to American, and <br />recorded in the Office of the Register of Deeds, Hall <br />County, Nebraska, on the 9th day of April, 1985, as <br />Document No. 85- 001700. <br />In addition to the representations and warranties of American <br />to ICI contained in the Agreement, which representations and <br />warranties are by this reference incorporated herein, American <br />represents and warrants to ICI that at the date of sale: <br />a. Assuming due authority, execution and delivery, and <br />assuming valid and binding effect, American is the <br />legal and equitable owner of said Deed of Trust and <br />Lease Assignment, with full right and authority to <br />assign and transfer the same; <br />b. American has no knowledge of: (i) any offsets or <br />counterclaims to the indebtedness secured by the Deed <br />of Trust or Lease Assignment which have been asserted <br />by Garst Seed or Garst Research Farms, Inc., nor (ii) <br />any material defaults under the terms of the Deed of <br />Trust or Lease Assignment; and <br />C. It has executed no release, discharge, satisfaction <br />or cancellation of said Deed of Trust or Lease Assignment, <br />nor release of any portion of the security described in <br />said Deed of Trust or Lease Assignment. <br />Contemporaneous with the delivery hereof, American has <br />endorsed the Note without recourse to ICI. <br />IN WITNESS WHEREOF, this Assignment is executed and delivered <br />the day and year first above written. <br />AMERICAN AGCREDIT CORPORATION <br />AW <br />B ` <br />Y- <br />Nam . Merlin B. a$tnUV- <br />Title: Vice President <br />PW <br />