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R.O. VII, 3L (3-72) (Vnc:ondi tional Reassignrrent) 'j-j r:f.l C r....\ "CH;t 88- 1'06366 r ASSIGNMENr OF REAL ESTATE LEASE AND AGREEMENT This assigrunent of lease and agreement nade and entered into by and between Jack Tenants and not as Tenants in common. Stratton & Shirley-' ~aton. As Joint .(Lessee-hereinafter called "Borrower"); and FIVE POINTS BANK, Grand Island, tiE !hereinafter called "Lessor"}; and Jack Stratton and Shirley Eaton Witnesseth: (hereinafter called "Assignee"); Whereas, Borrower has heretofore leased from Lessor certain real property by lease dated November 10, 198B ,recorded in Book , Page , of the records of the County of Hall , State of Nebraska , for a teDn of 3 years, and des=ibed as follows: See Exhibit "A" Hereto Attached And, Whereas, Assignee has authorized the ma)dng of a loan to Borrrrwer in the am:mnt of Sixty-Five Thousand and no/100_____________________________Dollars due and payable on or before November 17, 2003 And, '~ereas, such loan is for the benefit of both Borrower and Lessor, in that the fuIXis are to be used for the benefit of the business conducted on the leased premises; Now, Therefore, for and in cxmsideration of the premises and of disbursement of said loan or any part therrof, Borrower, with the consent of Lessor, hereby Assigns, Transfers and Conveys unto Assignee the lease. above described, 'lb Have and 'lb Hold the SaIl'S for and during the remainder of the term mentioned in the lease, and all renewals and extensions of said term. A. Borrower and Lessor further COvenant and Agree: 1. Borrower is rot now in default in the perfort1E!lce of lease; and Borrower and Lessor will each perfonn the covenants and conditions required of him by said lease for the term of said loan and 'my. extensions or renewal of it. 2. Except as other\~ise herein pennitted, Borrower and Lessor "lill not, alone or by agreerrent between them, nodify or terminate said lease without consent of Assignee. 3. In the event of default by Borrower under the terms of said lease, Lessor shall have the r':'ght to terminate said lease in accordance with its terms, Provided, However, Lessor shall first give Assignee 60 days written notice of such default and the right, at the option of Assignee, during such period, to cure such default; and during such period, Lessor will take no action to enforce its claim arising from such default without Assignee's consent. 4.. In the event of any default by Borrower in the performance of any of the obligations of his note to 1\Ssignee evidencing the aforesaid loan, any renet.".l or extension thereof, or any other agreement made in connection therewith, including his agreerrents herein, then, Assignee, at its option, nay, without notice, using such force as may be necessary, e.'1tcr said leased premises and do any one or nore of the following: l a. P.em>ve all property of BorJ:O'Iler therefrom that is hnuthecated a13 oollater for its. ilforellEl1t.ioned loan. "b. Sell the propertv referred to .in paragraph a. on said ptcemisec..