Collateral Assignments

Collateral Assignments. Any Collateral Transfer of Note and Lien and an allonge executed in blank covering Borrower's Loans that Borrower hereafter pledges to secure an Individual Loan. Each Collateral Transfer of Note and Lien shall be in the form attached hereto as Exhibit "C" and accompanied by an allonge executed in blank. No Collateral Transfer of Note and Lien may be recorded unless and until an Event of Default has occurred and is continuing