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<br />84 - 005450
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<br />ASSIGNMENT OF LEASES, RENTS AND INCOME
<br />
<br />THIS ASSIGNMENT OF LEASES, RENTS AND INC::>ME (the
<br />"Assignment of Rents"), dated as of October 1, 1984, from the
<br />County of Hall, Nebraska (the "Issuer") to Norwest Bank Sioux
<br />City, N.A., Sioux City, Iowa (the "Bondholder"), a national
<br />banking association, as assignee,
<br />
<br />WIT N E SSE T H:
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<br />WHEREAS, the Issuer is a duly organized and existing
<br />county and a political subdivision under the laws of the State of
<br />Nebraska; and
<br />
<br />WHEREAS, the Issuer is authorized by Section 2 of
<br />Article XIII of the Nebraska Constitution and Sections 18-1614
<br />through 18-1623, Reissue Revised Statute of Nebraska, 1943, as
<br />amended (collectively the "Act") to issue and sell its industrial
<br />development revenue bonds for the purpose of providing money to
<br />acquire, whether by purchase, lease or otherwise, land, buildings
<br />and other improvements and all real and personal property deemed
<br />necessary in connection therewith, 'vhich are suitable for use for
<br />manufacturing or industrial enteY'1:'r- '_,es; and
<br />
<br />WHEREAS, pursuant to tne terms of Bond Resolution No.
<br />___ adopted by the Board of Supervisors of the Issuer on October
<br />2, 1984, the Issuer has issued a series of its industrial
<br />development revenue bonds consisting of a single bond in the
<br />original principal amount of $300,000 designated "County of Hall,
<br />Nebraska, Industrial Development Revenue Bond (Wilbeth, Inc.
<br />Project), Series 1984," dated October 1, 1984 (the "Bondn); and
<br />
<br />WHEP~AS, the proceeds from the sale of the Bond are to
<br />be used by the Issuer for the purpose of providing funds to
<br />finance the cost of acquiring a facility, including land and
<br />buildings, suitable for use for manufacturing or industrial
<br />enterprises (the nprojectU}, and paying certain expenses incident
<br />thereto, which Project has been leased to \Hlbeth, Inc. (the
<br />"Company"), an Iowa corporation, under and pursuant to a Lease
<br />Agreement (the "Lease"), dated as of October 1, 1984, by and
<br />between the Issuer, as lessor, and the Company, as lessee; and
<br />
<br />WHEREAS, to secure payment of the Bond, the Issuer has
<br />executed and delivered to the Bondholder a Mortgage and
<br />Construction Security Agreement (the "Mortgage"), dated as of
<br />October 1, 1984, wherein the Issuer grants to the Bondholder a
<br />first mortgage lien and construction security interest in and to
<br />the Project; and
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