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<br /> rn M <br /> Q ~ <br /> m f1 Z <br /> _ o o <br /> a --4 <br /> N M T C7 Co -0 --4 M CD <br /> C) -r-1 (Z) X M CD <br /> M ` C7) <br /> F--+ o -n <br /> v rat M r- A rv c <br /> -~3 m <br /> z <br /> cn 0 <br /> COLLATERAL ASSIGNMENT OF EQUITY IN So <br /> REAL ESTATE CONTRACT <br /> In consideration for a certain loan in the amount of $205,600.00 being made by Pathway Bank to Paul <br /> Sullivan and Amanda Sullivan, husband and wife, hereafter called. Assignor, the Assignor does hereby <br /> sell, assign and set over to Pathway Bank, a Nebraska Banking Corporation, of Cairo, Hall County, <br /> Nebraska, as Assignee, hereinafter called Bank, all of their right, title, interest and equity in a certain <br /> real estate contract executed on October 29, 1998, by Leroy Werner and Ramona Werner, husband and <br /> wife, as seller, and by Paul Sullivan and Andrew Sullivan, jointly and severally, as purchasers, for the <br /> sale of the following described real estate: <br /> <br /> All of the West Half of the Northwest Quarter (W1/2, NW1/4) of Section Thirty-five(35), <br /> Township Ten (10) North, Range Nine (9) West, of the 6th P.M., Hall County, Nebraska, <br /> Except that three (3) acre part thereof which is described upon Exhibit "A" which is attached <br /> Hereto and made a part hereof by this reference. <br /> <br /> to have and to hold said contract unto Pathway Bank so long as a certain loan made by said bank to Paul <br /> and Amanda Sullivan, in the principal sum of $205,600.00, evidenced by a promissory note dated April <br /> 6, 2009, remains unpaid in whole or in part. <br /> <br /> This Assignment is made as security for the repayment of said loan and upon default by Paul and <br /> Amanda Sullivan under the terms of said loan, the bank at its option and upon written notice to <br /> Assignor. may assume all benefits of Assignor under the terms of said real estate contract. <br /> <br /> It is understood and agreed that the Bank does not assume any liability for the performance of any of the <br /> terms of the real estate contract unless the Bank s all do so in writing. <br /> <br /> Dated: April 6, 2009 <br /> <br /> aul Sullivan Amanda Su ivan <br /> <br /> STATE OF NEBRASKA) <br /> ) SS <br /> COUNTY OF HALL) <br /> <br /> The foregoing instrument was acknowledged before me on this 6th day of April, 2009, by <br /> Paul and Amanda Sullivan. <br /> <br /> GENERAL NOT~RT•SGt~I o} Nemreska <br /> JOSEPH E. GRABOWSKI - <br /> t~ OW 2069 ARY UB -IC <br />