Document:

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                               SECURITY AGREEMENT

     This Security Agreement (the "Agreement") is entered into as of this 15th
day of June, 2004, by and between Premiere Credit of North America, LLC, an
Indiana limited liability company ("Debtor") and National Education Loan
Network, Inc., a Nevada corporation ("Secured Party"). Debtor, for
consideration, hereby assigns and pledges to Secured Party and grants to Secured
Party a first security interest in all furniture and equipment of Debtor now
owned or hereafter acquired, and all replacements, substitutions, accessions and
proceeds thereof, including but not limited to the property described in Exhibit
A, attached hereto. This Agreement is intended to secure payment of the
indebtedness evidenced by that certain promissory note of eve date herewith,
payable by Debtor to Secured Party (the "Note").

     Debtor expressly warrants and covenants that, except for the security
interest granted hereby, Debtor is the legal and beneficial owner of the
Collateral free from any adverse lien, security interest or encumbrance.

     Debtor further warrants that, prior to payment in full of the Note:

     1.   Debtor shall not sell, assign, transfer, encumber or otherwise dispose
of the Collateral or its interest therein without the prior written consent of
Secured Party; and

     2.   Debtor shall keep the Collateral free and clear of all attachments,
levies, taxes, liens and encumbrances of every kind, nature and description and
Debtor will defend the Collateral against any and all claims and demands of all
persons at any time claiming the same or any interest in the Collateral.

     Debtor shall be in default of this Agreement upon the happening of the
following events or conditions:

     1.   Default in the payment or performance of any obligation, covenant or
liability contained in this Agreement, the Note or the Line of Credit Agreement
of even date herewith between Debtor and Secured Party;

     2.   Except as otherwise provided herein, sale or encumbrance of the
Collateral or Debtor's interest therein or the making of any levy, seizure or
attachment thereof or thereon;

     3.   Debtor's admission, in writing, of its inability to pay its debts as
they become due;

     4.   Debtor's assignment of its assets or funds for the benefit of its
creditors;

     5.   The filing of a voluntary petition in bankruptcy or pursuant to any
chapter of the Bankruptcy Code by Debtor;

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     6.   The filing of an involuntary petition in bankruptcy or pursuant to any
chapter of the Bankruptcy Code against the Debtor, which petition shall not be
terminated within 30 days of filing;

     7.   Debtor's consent to the appointment of a receiver for all or a
substantial part of its property;

     8.   The assumption of custody, attachment or sequestration by a court of
competent jurisdiction of all or a substantial part of Debtor's property, which
custody, attachment or sequestration shall not be suspended or terminated within
30 days of its inception; or

     9.   Secured Party no longer owns at least a 50% equity interest in Debtor.

     In the event of default Secured Party may exercise in respect of the
Collateral, in addition to other rights and remedies provided herein or
otherwise available to it and also may (without notice except as specified
below) sell the Collateral or any part thereof in one or more parcels at public
or private sale, at any location Secured Party deems proper for cash on credit
or for future delivery and upon such other terms as Secured Party may deem
commercially reasonable. Secured Party agrees that to the extent notice of sale
shall be required by law, Secured Party shall give notice to Debtor of the time
and place of any public sale or the time after which any private sale is to be
made shall constitute a reasonable notification. Secured Party shall not be
obligated to make any sale of Collateral regardless of notice of sale having
been given. Secured Party may adjourn any public or private sale from time to
time by announcement at the time and place fixed therefore, and such sale may
without further notice be made at the time and place to which it was so
adjourned. Debtor agrees that Secured Party may, subsequent to default, purchase
the Collateral at any sale, whether public or private, and Debtor hereby waives
any right of redemption.

     Secured Party's exercise of any portion of its rights hereunder shall not
preclude its subsequent exercise of any other rights or remedies granted to it
under the Security Agreement or Article 9 of the Uniform Commercial Code as
adopted in Nebraska or under the analogous law of any other state, where
appropriate. Debtor agrees to pay Secured Party's expenses of exercising its
rights, powers and remedies against the Collateral and in selling the
Collateral, including, but not limited to, Secured Party's reasonable attorney's
fees and legal costs.

     Debtor hereby agrees that it shall promptly execute and/or deliver all
further instruments and documents, and take all further action, that may be
reasonably necessary in order to perfect or protect the pledge, assignment and
security interest granted hereunder or to fulfill its obligations hereunder.

     Any notices required or permitted to be given under this Agreement shall be
sufficient if in writing and if personally delivered or if sent by certified or
registered mail to the addresses set forth below, or to such other addresses the
sending party shall have had written notification of prior thereto. Such notices
shall be effective as of the date of such personal delivery or as of the

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date of delivery shown on the receipt thereof. The addresses for delivery of
such notices shall be as follows:

          If to Secured Party:

               National Education Loan Network, Inc.
               121 South 13th Street, Suite 201
               Lincoln, Nebraska 68508
               Attention: Terry Heimes

          If to Debtor:

               Premiere Credit of North America, LLC
               2002 Wellesley Boulevard
               Indianapolis, Indiana 46219
               Attention: Todd J. Wolfe

     No delay or omission of Secured Party in exercising any right, power or
remedy in the event of a default hereunder shall operate as a waiver of such
right or remedy of the same date or on any future occasion; nor shall any single
or partial exercise of any power, remedy or right provided for in this Agreement
preclude another or further exercise thereof or the exercise of any right, power
or remedy provided hereunder, or by law or equity or otherwise. The taking of
this Agreement shall not waive or impair any other security Secured Party may
have in the order it may deem proper, and notwithstanding any collateral
security, Secured Party shall retain its rights of setoff against Debtor.

     All rights of Secured Party hereunder shall inure to the benefit of its
successors and assigns. This Agreement may only be amended or modified in
writing signed by all parties hereto. All promises and duties of Debtor shall be
binding on its successors and assigns.

     The Collateral shall be released from the pledge created by this Agreement
only when the Note is paid in full. This Agreement and all matters and issues
collateral thereto shall be construed according to the laws of the State of
Nebraska. The Lancaster County District Court in Lincoln, Nebraska shall have
exclusive jurisdiction, including IN PERSONAM jurisdiction, and shall be the
exclusive venue for any and all controversies and claims arising out of or
relating to this Agreement or a breach thereof.

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     Executed on the date first set forth above.

Debtor:                                   Secured Party:

PREMIERE CREDIT OF NORTH AMERICA, LLC     NATIONAL EDUCATION LOAN NETWORK, INC.

By:     /s/ Todd J. Wolfe                 By:     /s/ Terry J. Heimes
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Title:                                    Title:
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                              REAL ESTATE MORTGAGE

     THIS INDENTURE WITNESSETH, That Premiere Credit of North America, LLC, an
Indiana limited liability company ("MORTGAGOR") of Marion County, State of
Indiana, MORTGAGE AND WARRANT to National Education Loan Network, Inc., a Nevada
corporation ("MORTGAGEE") of Lancaster County, State of Nebraska, the following
described real estate in Marion County, Indiana:

     See Exhibit A, attached hereto,

together with all rights, privileges, interests, easements, hereditaments,
appurtenances, fixtures and improvements now or hereafter belonging,
appertaining, attached to, or used in connection therewith, and all the rents,
issues, income and profits thereof (all of which is hereinafter called the
"MORTGAGED PREMISES").

     This mortgage is given to secure the performance of the provisions hereof
and the payment of a certain promissory note ("NOTE") dated as of June 15, 2004,
in the principal amount of One Million Dollars ($1,000,000.00) with interest as
therein provided and with a final maturity date of June 14, 2004. Said principal
and interest are payable as provided in the Note.

     Mortgagor (jointly and severally) covenants and agrees with Mortgagee that:

     1.   PAYMENT OF INDEBTEDNESS. Mortgagor shall pay when due all indebtedness
secured by this mortgage, on the dates and in the amounts, respectively, as
provided in the Note or in this mortgage, without relief from valuation and
appraisement laws, and with attorneys' fees. Mortgagor shall have only such
prepayment privileges as are provided in the Note.

     2.   NO LIENS. Mortgagor shall not permit any lien of mechanics or
materialmen to attach to and remain on the Mortgaged Premises or any part
thereof for more than forty-five (45) days after receiving notice thereof.

     3.   REPAIR OF MORTGAGED PREMISES; INSURANCE. Mortgagor shall keep the
Mortgaged Premises in good repair and shall not commit waste thereon. Mortgagor
shall procure and maintain in effect at all times adequate insurance in
insurance companies acceptable to Mortgagee against loss, damage to, or
destruction of the Mortgaged Premises because of fire, windstorm and such other
hazards and in such amounts, as Mortgagee may reasonably require from time to
time. All such insurance policies shall contain proper clauses making all
proceeds of such policies payable to Mortgagee and Mortgagor as their respective
interests may appear. All such policies of insurance shall be delivered to and
retained by Mortgagee until the indebtedness secured hereby is fully paid.

     4.   TAXES AND ASSESSMENTS. Mortgagor shall pay all taxes or assessments
levied or assessed against the Mortgaged Premises, or any part thereof, as and
when the same become due and before penalties accrue.

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     5.   ADVANCEMENTS TO PROTECT SECURITY. Mortgagee, at his option, may
advance and pay all sums necessary to protect and preserve the security intended
to be given by this mortgage. All sums so advanced and paid by Mortgagee shall
become a part of the indebtedness secured hereby and shall bear interest from
the date or dates of payment at the Default Rate as provided in the Note. Such
sums may include, but are not limited to, insurance premiums, taxes, assessments
and liens which may be or become prior and senior to this mortgage as a lien on
the Mortgaged Premises, or any part thereof, and all costs, expenses and
attorneys' fees incurred by Mortgagee in respect of any and all legal or
equitable proceedings which relate to this mortgage or to the Mortgaged
Premises.

     6.   DEFAULT BY MORTGAGOR; REMEDIES OF MORTGAGEE. Upon default by Mortgagor
in any payment provided for herein or in the Note, or in the performance of any
covenant or agreement of Mortgagor hereunder, or if Mortgagor shall abandon the
Mortgaged Premises, or shall be adjudged bankrupt, or if a trustee or receiver
shall be appointed for Mortgagor or for any part of the Mortgaged Premises, then
and in any such event, the entire indebtedness secured hereby shall become
immediately due and payable at the option of Mortgagee, without notice, and this
mortgage may be foreclosed accordingly. Upon such foreclosure, Mortgagee may
continue the abstract of title to the Mortgaged Premises, or obtain other
appropriate title evidence, and may add the cost thereof and of any title
insurance policy to be issued in connection therewith to the principal balance
due, together with interest at the Default Rate as provided in the Note.

     7.   NON-WAIVER; REMEDIES CUMULATIVE. No delay by Mortgagee in the exercise
of any of his rights hereunder shall preclude the exercise thereof so long as
Mortgagor is in default hereunder, and no failure of Mortgagee to exercise any
of his rights hereunder shall preclude the exercise thereof in the event of a
subsequent default by Mortgagor hereunder. Mortgagee may enforce any one or more
of his rights or remedies hereunder successively or concurrently.

     8.   EXTENSIONS; REDUCTIONS; RENEWALS; CONTINUED LIABILITY OF MORTGAGOR.
Mortgagee, at his option, may extend the time for the payment of the
indebtedness, or reduce the payments thereon, or accept a renewal note or notes
therefor, without consent of any junior lien holder, and without the consent of
Mortgagor if Mortgagor has then parted with title to the Mortgaged Premises. No
such extension, reduction or renewal shall affect the priority of this mortgage
or impair the security hereof in any manner whatsoever, or release, discharge or
affect in any manner the personal liability of Mortgagor to Mortgagee. This
mortgage shall secure any notes or other evidence of indebtedness given in
substitution for the Note.

     9.   DUE ON SALE. If all or any part of the Mortgaged Premises, or any
interest therein, is sold, transferred, assigned or otherwise disposed of, or
further encumbered by mortgage or otherwise, without Mortgagee's prior written
consent, Mortgagee, at its option, may declare all sums secured by this mortgage
immediately due and payable. Any contract of sale of any kind including, without
limitation, land contract, conditional sales contract, installment sales
contract, lease with option to purchase (whether such option is oral or
contained within such lease or in any other document) or any other transfer of
interest in the Mortgaged Premises (other than a transfer by devise or descent
or a transfer by operation of law to a surviving co-tenant or

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the creation of a leasehold interest of three (3) years or less not including
any option to purchase, renew or extend) shall be deemed a transfer requiring
prior written consent of Mortgagee. Mortgagee reserves the right, in his
unlimited discretion, on any basis deemed appropriate to Mortgagee, to refuse
such consent, to condition such consent on a change in the interest payable on
the sums secured by this mortgage, and/or otherwise change the terms of this
mortgage. If Mortgagee exercises the option to accelerate payment of the
indebtedness, all such indebtedness shall become due and payable within thirty
(30) days after the mailing of a notice from Mortgagee to Mortgagor setting
forth the total sums due. In the event of the failure of Mortgagor to pay such
sums prior to expiration of such thirty (30) day period, Mortgagee may, without
further notice or demand, invoke any remedy permitted hereunder for default.

     10.  GENERAL AGREEMENT OF PARTIES. All rights and obligations hereunder
shall extend to and be binding upon the several heirs, representatives,
successors and assigns of the parties to this mortgage. When applicable, use of
the singular form of any word also shall mean or apply to the plural and
masculine form shall mean and apply to the feminine or the neuter. The titles of
the several paragraphs of this mortgage are for convenience only and do not
define, limit or construe the contents of such paragraphs.

     IN WITNESS WHEREOF, the Mortgagor has executed this mortgage, this 15th day
of June, 2004.

                                      Premiere Credit of North America, LLC,
                                      an Indiana limited liability company

                                      By:        /s/ Todd J. Wolfe
                                             -----------------------------------
                                      Title:
                                             -----------------------------------

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