The purpose of this agreement is to secure assignee by reason of his [her] indorsement of certain notes of the corporation at _________ Bank, and this assignment shall remain as continuing collateral security for the protection of assignee on account of the indorsement and on account of any further indorsements —he may make on any of the notes of the company or any renewals of the notes in whole or in part. It is further agreed that _________, who is now the treasurer of the corporation, shall act as the representative of assignee in receiving and collecting the accounts, and that —he may turn over to the company the proceeds of any account collected by him [her], by assigning to _________ an equal amount, or as near an equal amount as practicable, of new and good accounts in favor of _________, so that there shall always be and remain in the name of _________ good accounts in favor of _________, and assigned to him [her] in the aggregate amount of about $_____.

For the purpose of carrying this agreement into execution, for each new account created in favor of the company and against any other persons, firms or corporations mentioned in the schedule, or against any other persons, firms or corporations, duplicate statements shall be made out, one of which shall be delivered to _________, stamped with the following:

[Date]

_________, Inc.

By _________, President

_________, Treasurer

Assignor also agrees to execute any other or further papers or agreements that may be necessary to carry this assignment or the assignments of any other accounts substituted for these accounts or substituted for any accounts that may be substituted for these accounts.