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ASSIGNMENT OF REAL ESTATE LEASE AND AGREEMENT
<br /> 9�- ����-i�s
<br /> This assignment of lease and agreement made and entered into by and between Narber Enterprises,LLC(Lessee-hereinafter
<br /> called"Borrower")and Jim Narber, Inc. (Lessee-hereinafter called"Guarantor"),Jim Narber and Donna Narber(Lessee-hereinafter
<br /> called"Guarantor")and Arthur Matthys and Donna Matthys,husband and wife, and Lori Matthys,a single person,(hereinafter called
<br /> "Lessor")and Business Loan Center, Inc.,a Delaware Corporation,(hereinafter called"Assignee"); Witnesseth:
<br /> Whereas,Borrower has heretofore leased from Lessor certain real property by lease dated �� � K-�'3 19�, and
<br /> described as follows:
<br /> The West 264 feet of Lot 2,Commercial Industrial Park Second Sub,Grand Island, County of Hall, State of
<br /> Nebraska,knewn as 2627 West Highway 30,Grand Island,Nebraska, 68803.
<br /> And,Whereas,Assignee has authorized the making of a loan to Borrower in the amount of Three Hundred Fortv Thousand
<br /> Dollars($340.000 001 due and payable on or before Februarv 15.2008•
<br /> And,Whereas,such loan is for the benefit of Borrower, in that the funds are to be used for the benefit of the business
<br /> conducted on the leased premises.
<br />' Now,Therefore,for and in consideration of the premises and of disbursement of said loan or any part thereof, Borrower,
<br /> with the consent of Lessor,hereby Assigns Transfers and Conveys unto Assignee the lease above described,To Have and To Hold
<br /> the same for and during the remainder of the term mentioned in the lease,and all renewals and extensions of said term.
<br /> A. Borrower and Lessor further Covenant and Agree:
<br /> l. Borrower is not now in default in the performance of lease;and Borrower and Lessor will each perform the
<br /> covenants and conditions required of him by said lease for the term of said loan and any extensions of renewal of it.
<br /> 2. Except as otherwise herein permitted,Borrower and Lessor will not, alone or by agreement between them,modify
<br /> or terminate said lease without consent of Assignee.
<br /> 3. In the event of default by Borrower under the terms of said lease, Lessor shall have the right to terminate said lease I
<br /> in accordance with its terms,Provided, However, Lessor shall first give Assignee 60 days written notice of such
<br /> default and the right,at the option of Assignee,during such period,to cure such de;ault; and during such period,
<br /> Lessor will take no action to enforce its claim arising from such default without Assignee's consent. Such written
<br /> notice shall be sent to Assignee at the following address:
<br /> Business Loan Center, Inc.
<br /> 645 Madison Avenue, 18th Floor
<br /> New York,NY 10022
<br /> 4. In the event of any default by Borrower in the performance of any of the obligations of his note to Assignee
<br /> evidencing the aforesaid loan,any renewal or extension thereof,or any other agreement made in connection
<br /> therewith, including his agreements herein,then, Assignee,at its option, may, with prior written notice, using such
<br /> force as may be necessary,enter said leased premises and do any one or more of the following:
<br /> a. Remove all property of Borrower therefrom that is hypothecated as collateral for its aforementioned loan.
<br /> Any damage caused in removal of said property shall be repaired at assignee's cost.
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