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<br />
<br />8~~-OD:l42;;
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<br />ASSIGNMENT AND SECUR !TY AGREEMENT
<br />
<br />THISft,SSIGNMENT AND SECURITY AGREEMENT made<this 3/ day
<br />of May, 1983 by POWDER RIVER ENTERPRISES.. INC,.. an Oregon corporation,
<br />"Asslgnof''', for the benefit of ASSOCIATES COMMERCIAL CORPORATION, a
<br />Delawslt'e <corporation, hereinafter referred to as U Assignee", and for the benefit
<br />of the successors and assigns of Assignee,
<br />
<br />
<br />t-fiO:. "
<br />~, ~'
<br />WHEREAS, Assignee has gr'anted Assignor and Powder River~ransport
<br />Corporation a line of credit under the terms and conditions set forth in that
<br />certain Loan and Security Agreement dated November 12, '1982, and Assignor
<br />is indli:!bted to Assignee by virtue of loan proceeds advanced by Assignee to
<br />AsSignor under said Loan and Security Agreement (hereinafter referred to as
<br />the" Lioanll); and
<br />
<br />WITNESSETH;
<br />
<br />WHEREAS, Assignor did, on the 29th day of August, 1980, enter into
<br />a Purchase Agreement with Ken Harter' and Jesse Antle under which Assignor
<br />has a~!reed to sell and the said Ken Har'ter and Jesse Antle have agreed to
<br />purchcls.e cE~rtain property located in Grand Island, Hall County, Nebraska, a
<br />description of said property is attached hereto, marked Exhibit II A II, and by
<br />this rli:!ference incorporated herein, subject to all of the terms and conditions
<br />set fOl'th in said Purchase Agreement pursuant to which the said I<ent Harter
<br />and Jl2sse Antle have agreed to a purchase price of Two Hundred Fifteen
<br />Thouslmd ($2'15,000,00) Dollars which purchase price is payable at the times
<br />specified in said Pl.Jrchase Agreement; and
<br />
<br />WHEREAS, the above descr'ibed Purchase Agreement w.,s recorded in
<br />the Office of the Register of Deeds for Hall County, Nebr'aska on June 6, 1983
<br />as Document No. 83-002842, and
<br />
<br />WHEREAS, Assignee has r'equested that Assignor execute and deliver
<br />to Ass,i~~nee' the within Agreement under which Assignor' agrees to assign to
<br />and giv1e a secur'jty interest ,;n all contract rights, accounts and general intan-
<br />gibles, due Ot' to become due, under the above desct'lbed PUt'chase Agreement,
<br />all as ~3dditional secw'ity for the above desct'ibed loan,
<br />
<br />NOW, THEREFORE, IT IS AGREED AS FOllOWS:
<br />
<br />1. Collateral Security. As collateral security for the repay-
<br />ment of the above described loan by Assignor to Assignee, Assignor does hereby
<br />sell, assign, transfer, and set over un to the Assignee, its successors and assigns,
<br />allot" the Assignor"s right, title and interest in and to that certain Purchase
<br />Agreem.mt dated August 29, 1980 by and between Assignor and Ken Harter
<br />and JE~sse Antle and all contract I'ights, accounts and gener'al intangibles due
<br />Or to become due thereunder, and all of the proceeds thereof, all of which
<br />shall hereinafter be referred to as the "Collateral".
<br />
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