Document:

<PAGE>

                                                                   EXHIBIT 10.46

                                                                  EXECUTION COPY

                                 SECURITY AGREEMENT

     SECURITY AGREEMENT, dated as of March 13, 2000, made by HANOVER EQUIPMENT
TRUST 2000A, a Delaware business trust (the "Borrower"), in favor of THE CHASE
MANHATTAN BANK, as Agent (in such capacity, the "Agent") for the Lenders parties
to the Credit Agreement, dated as of the date hereof (as amended, supplemented
or otherwise modified from time to time, the "Credit Agreement"), among the
Borrower, the Agent and such Lenders.

                             Preliminary Statement

          A. Pursuant to the Credit Agreement, the Lenders have severally agreed
to make Loans to the Borrower upon the terms and subject to the conditions set
forth therein; and

          B. It is a condition precedent to the obligation of the Lenders to
make their respective Loans to the Borrower under the Credit Agreement that the
Borrower shall have executed and delivered this Security Agreement to the Agent
for the ratable benefit of the Lenders.

          NOW, THEREFORE, in consideration of the premises and to induce the
Agent and the Lenders to enter into the Credit Agreement and to induce the
Lenders to make their respective Loans to the Borrower, the Borrower hereby
agrees with the Agent, for the ratable benefit of the Lenders, as follows:

     1.  Defined Terms.

          1.1  Definitions.  Unless otherwise defined herein, capitalized terms
used herein shall have the respective meanings, and this Agreement shall be
interpreted in accordance with the rules of usage, set forth in Annex A attached
to the Participation Agreement dated as of the date hereof among the Lessee, the
Borrower, the Investors, the Trust Company, the Agent and the Lenders, and the
following terms shall have the following meanings:

          "Agreement": this Security Agreement, as the same may be amended,
     supplemented or otherwise modified from time to time.
<PAGE>

          "Code":  the Uniform Commercial Code as from time to time in effect in
     the State of New York.

          "Collateral":  as defined in Section 2.

          "Equipment":  the equipment set forth on Schedule 1 annexed hereto,
     and all other tangible personal property now or hereafter acquired by the
     Borrower, together with any and all accessions, additions, improvements,
     substitutions and replacements thereto and therefor.

          "Obligations":  shall mean the Guaranteed Obligations.

          "Proceeds":  as defined in the Code.

     2.  Grant of Security Interest.  As collateral security for the prompt and
complete payment and performance when due (whether at the stated maturity, by
acceleration or otherwise) of the Obligations, the Borrower hereby grants to the
Agent for the ratable benefit of the Lenders a security interest in all of its
respective right, title and interest, whether the same be goods, fixtures,
equipment, general intangibles, accounts or chattel paper, in and to (a) the
Equipment, (b) rights and interests of Borrower as Lessor pursuant to the Lease,
(c) all books and records pertaining to the foregoing, (d) all warranties and
guarantees given by any Person with respect to any of the foregoing, as well as
all chooses in action, claims, and causes of action arising from any breach
thereof, and (e) to the extent not otherwise included, all Proceeds and products
of the foregoing, in each case whether now existing or hereafter acquired
(collectively, the "Collateral"), subject to the rights of the Lessee, as Lessee
under the Lease, so long as no Lease Event of Default has occurred and is
continuing.

     3.  Representations and Warranties.

     3.1  Equipment.  The Borrower hereby represents and warrants that, the
Equipment will be kept at the locations listed on Schedule 1 subject only to the
Lessee's rights to relocate the Equipment as provided for in the Operative
Agreements.

     3.2  Chief Executive Office.  The Borrower hereby represents and warrants
that the Borrower's chief place of business, chief executive office and office
where the documents, accounts and records related to the Collateral are kept is
located at 1100 North Market Street, Wilmington, Delaware 19890.

     3.3  Farm Products.  The Borrower hereby represents and warrants that none
of the Collateral constitutes, or is the Proceeds of, Farm Products.

     4.  Covenants.  From and after the date of this Agreement until the
Obligations shall have been paid in full and the Commitments shall have expired
or otherwise been terminated:

     4.1  Further Documentation.  At any time and from time to time, upon the
written request of the Agent, and at the sole expense of the Borrower, the
Borrower will promptly and duly
<PAGE>

                                                                               3

execute and deliver such further instruments and documents and take such further
actions as the Agent may reasonably request for the purpose of obtaining or
preserving the full benefits of this Agreement and of the rights and powers
herein granted, including, without limitation, the filing of any financing or
continuation statements under the Uniform Commercial Code in effect in any
jurisdiction with respect to the security interests created hereby.

     4.2  Changes in Locations.  (a)  Except with respect to the rights of the
Lessee under the Operative Agreements, the Borrower will not permit any of the
Equipment to be kept at a location other than those listed on Schedule 1; and

     (b) The Borrower will not change the location of its chief executive
offices from that specified in Section 3.2.

     4.3  Change in Name.  The Borrower will not change its name, identity or
structure to such an extent that any financing statement filed by the Agent in
connection with this Agreement would become seriously misleading, unless they
shall have given the Agent at least 30 days' prior written notice of such
change.

     4.4  Further Identification of Collateral.  The Borrower will cause the
Lessee to furnish to the Agent from time to time statements and schedules
further identifying and describing the Collateral and its location and such
other reports in connection with the Collateral as the Agent may reasonably
request, all in reasonable detail.

     5.   Remedies.

     5.1  Code Remedies.  If a Credit Agreement Event of Default shall occur and
be continuing, the Agent, on behalf of the Lenders, may exercise, in addition to
all other rights and remedies granted to them in this Agreement and in any other
instrument or agreement securing, evidencing or relating to the Obligations, all
rights and remedies of a secured party under the Code.  Without limiting the
generality of the foregoing, the Agent, without demand of performance or other
demand, presentment, protest, advertisement or notice of any kind (except any
notice required by law or as referred to below) to or upon the Borrower, the
Lessee or any other Person (all and each of which demands, defenses,
advertisements and notices are hereby waived to the extent permitted by law),
may in such circumstances forthwith collect, receive, appropriate and realize
upon the Collateral, or any part thereof, and/or may forthwith sell, lease,
assign, give an option or options to purchase, or otherwise dispose of and
deliver the Collateral or any part thereof (or contract to do any of the
foregoing), in one or more parcels at public or private sale or sales, at any
exchange, broker's board or office of the Agent or any Lender or elsewhere upon
such terms and conditions as it may deem advisable and at such prices as it may
deem best, for cash or on credit or for future delivery without assumption of
any credit risk, but subject to the rights of the Lessee under the Lease so long
as no Lease Event of Default shall have occurred and be continuing.  The Agent
or any Lender shall have the right upon any such public sale or sales, and, to
the extent permitted by law, upon any such private sale or sales, to purchase
the whole or any part of the Collateral so sold, free of any right or equity of
redemption in the Borrower, which right or equity is hereby waived or released
to the extent permitted by law.  The Borrower further agrees, at the Agent's
request, to assemble the Collateral and make it
<PAGE>

                                                                               4

available to the Agent at places which the Agent shall reasonably select. The
Agent shall apply the net proceeds of any action taken by it pursuant to this
subsection, after deducting all reasonable costs and expenses of every kind
incurred in connection therewith or incidental to the care or safekeeping of any
of the Collateral or in any way relating to the Collateral or the rights of the
Agent and the Lenders hereunder, including, without limitation, reasonable
attorneys' fees and disbursements, to the payment in whole or in part of the
Obligations, in accordance with Section 8.2 of the Credit Agreement, and only
after such application and after the payment by the Agent of any other amount
required by any provision of law, including, without limitation, Section 9-
504(1)(c) of the Code, need the Agent account for the surplus, if any, to the
Borrower. To the extent permitted by applicable law, the Borrower waives all
claims, damages and demands it may acquire against the Agent or any Lender
arising out of the exercise by them of any rights hereunder. If any notice of a
proposed sale or other disposition of Collateral shall be required by law, such
notice shall be deemed reasonable and proper if given at least 10 days before
such sale or other disposition. The Agent agrees that if it shall proceed to
foreclose the Lien of this Agreement, it shall, to the extent that it is
entitled to do so hereunder and under the other Operative Agreements, and is not
then stayed or prevented from doing so by law or otherwise, proceed (to the
extent it has not already done so) to exercise one or more of the significant
possessory remedies referred to in the Lease (as it shall determine in its sole
good faith discretion).

     6.  Agent's Appointment as Attorney-in-Fact; Agent's Performance of
Obligations.

     6.1  Powers.  The Borrower hereby irrevocably constitutes and appoints the
Agent and any officer or agent thereof, with full power of substitution, as its
true and lawful attorney-in-fact with full irrevocable power and authority in
the place and stead of the Borrower and in the name of the Borrower or in its
own name, for the purpose of carrying out the terms of this Agreement, to take
any and all appropriate action and to execute any and all documents and
instruments which may be necessary or desirable to accomplish the purposes of
this Agreement, and, without limiting the generality of the foregoing, the
Borrower hereby gives the Agent the power and right, on behalf of the Borrower,
without notice to or assent by the Borrower, to do any or all of the following:

          (a)  pay or discharge taxes and Liens levied or placed on or
     threatened against the Collateral, effect any repairs or any insurance
     called for by the terms of the Lease and pay all or any part of the
     premiums therefor and the costs thereof;

          (b)  execute, in connection with any sale provided for in Section 5.1,
     any indorsements, assignments or other instruments of conveyance or
     transfer with respect to the Collateral; and

          (c)  (1) sign and indorse any invoices, freight or express bills,
     bills of lading, storage or warehouse receipts, drafts against debtors,
     assignments, verifications, notices and other documents in connection with
     any of the Collateral; (2) commence and prosecute any suits, actions or
     proceedings at law or in equity in any court of competent jurisdiction to
     collect the Collateral or any portion thereof and to enforce any other
     right in respect of any Collateral; (3) defend any suit, action or
     proceeding brought against the
<PAGE>
                                                                              5

     Borrower with respect to any Collateral; (4) settle, compromise or adjust
     any such suit, action or proceeding and, in connection therewith, to give
     such discharges or releases as the Agent may deem appropriate; and (5)
     generally, sell, transfer, pledge and make any agreement with respect to or
     otherwise deal with any of the Collateral as fully and completely as though
     the Agent were the absolute owner thereof for all purposes, and do, at the
     Agent's option and the Borrower's expense, at any time, or from time to
     time, all acts and things which the Agent deems necessary to protect,
     preserve or realize upon the Collateral and the Agent's and the Lenders'
     security interests therein and to effect the intent of this Agreement, all
     as fully and effectively as the Borrower might do.

     Anything in this subsection to the contrary notwithstanding, the Agent
agrees that it will not exercise any rights under the power of attorney provided
for in this subsection unless a Credit Agreement Event of Default shall have
occurred and be continuing.

     6.2  Performance by Agent of Borrower's Obligations.  If the Borrower fails
to perform or comply with any of its agreements contained herein, the Agent, at
its option, but without any obligation so to do, may perform or comply, or
otherwise cause performance or compliance, with such agreement.

     6.3  Borrower's Reimbursement Obligation.  The expenses of the Agent
incurred in connection with actions undertaken as provided in this Section,
together with interest thereon after a Credit Agreement Event of Default at the
Overdue Rate from the date of payment by the Agent to the date reimbursed by the
Borrower, shall be payable by the Borrower to the Agent on demand.

     6.4  Ratification; Power Coupled With An Interest.  All powers,
authorizations and agencies contained in this Agreement are coupled with an
interest and are irrevocable until this Agreement is terminated and the security
interests created hereby are released.

     7.  Duty of Agent.  The Agent's sole duty with respect to the custody,
safekeeping and physical preservation of the Collateral in its possession, under
Section 9-207 of the Code or otherwise to the extent permitted by law, shall be
to deal with it in the same manner as the Agent deals with similar property for
its own account.  Neither the Agent, any Lender nor any of their respective
officers, directors, employees or agents shall be liable for failure to demand,
collect or realize upon any of the Collateral or for any delay in doing so or
shall be under any obligation to sell or otherwise dispose of any Collateral
upon the request of the Borrower or any other Person or to take any other action
whatsoever with regard to the Collateral or any part thereof.  The powers
conferred on the Agent and the Lenders hereunder are solely to protect the
Agent's and the Lenders' interests in the Collateral and shall not impose any
duty upon the Agent or any Lender to exercise any such powers.  Neither the
Agent, the Lenders nor any of their officers, directors, employees or agents
shall be responsible to the Borrower for any act or failure to act hereunder,
except for the negligence or willful misconduct of the Agent, any Lender or any
of their officers, directors, employees or agents.

     8.  Execution of Financing Statements.  Pursuant to and to the extent
permitted by Section 9-402 of the Code, the Borrower authorizes the Agent to
file financing statements with
<PAGE>
                                                                               6

respect to the Collateral without the signature of the Borrower in such form and
in such filing offices as the Agent reasonably determines appropriate to perfect
the security interests of the Agent under this Agreement. A carbon, photographic
or other reproduction of this Agreement shall be sufficient as a financing
statement for filing in any jurisdiction.

     9.  Authority of Agent.  The Borrower acknowledges that the rights and
responsibilities of the Agent under this Agreement with respect to any action
taken by the Agent or the exercise or non-exercise by the Agent of any request,
judgment or other right or remedy provided for herein or resulting or arising
out of this Agreement shall, as between the Agent and the Lenders, be governed
by the Credit Agreement and by such other agreements with respect thereto as may
exist from time to time among them, but, as between the Agent and the Borrower,
the Agent shall be conclusively presumed to be acting as agent for the Lenders
with full and valid authority so to act or refrain from acting, and the Borrower
shall not be under any obligation, or entitlement, to make any inquiry
respecting such authority.

     10.  Notices.  Unless otherwise specifically provided herein, all notices,
requests and demands required or permitted by the terms hereof to be given to
any person shall be given pursuant to and in accordance with Section 13.3 of the
Participation Agreement.

     11.  Severability.  Any provision of this Agreement which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

     12.  Amendments in Writing; Cumulative Remedies.

     12.1  Amendments in Writing.  None of the terms or provisions of this
Agreement may be waived, amended, supplemented or otherwise modified except by a
written instrument executed by the Borrower and the Agent, provided that any
provision of this Agreement imposing obligations on the Borrower may be waived
by the Agent in a written instrument executed by the Agent.

     12.2  Remedies Cumulative.  The rights and remedies herein provided are
cumulative, may be exercised singly or concurrently and are not exclusive of any
other rights or remedies provided by law.
<PAGE>
                                                                               7

     13.  Section Headings.  The Section headings used in this Agreement are for
convenience of reference only and are not to affect the construction hereof or
be taken into consideration in the interpretation hereof.

     14.  Successors and Assigns.  This Agreement shall be binding upon the
successors and assigns the Borrower and shall inure to the benefit of the Agent
and the Lenders and their successors and permitted assigns.

     15.  Governing Law.  This Agreement shall be governed by and construed and
interpreted in accordance with the law of the State of New York.

     16.  Obligations Are Without Recourse.  Anything in this Agreement to the
contrary notwithstanding, the Borrower's liability hereunder shall be limited as
provided in Section 9.17 of the Credit Agreement.

     17.  Counterparts.  This Agreement may be executed in any number of
separate counterparts, each of which shall be an original, but all of which
shall together constitute one and the same instrument.
<PAGE>

IN WITNESS WHEREOF, the undersigned has caused this Security Agreement to be
duly executed and delivered as of the date first above written.

                              HANOVER EQUIPMENT TRUST 2000A

                              By: Wilmington Trust Company, not individually but
                              solely as Trustee

                              By: __________________________________
                                  Name:
                                  Title:
<PAGE>

                                                            Schedule 1

                                 EQUIPMENT
<PAGE>

                                 JOINDER OF LESSEE

          HANOVER COMPRESSION INC., a Delaware corporation ("Lessee") hereby
joins in the Security Agreement dated as of March 13, 2000 made by HANOVER
EQUIPMENT TRUST 2000A, as the Borrower in favor of The Chase Manhattan Bank, as
the Agent for the Lenders (the "Security Agreement") in order to, and HEREBY
GRANTS TO THE AGENT FOR THE RATABLE BENEFIT OF THE LENDERS A SECURITY INTEREST
IN all of its right, title and interest, if any, in and to the Collateral for
the purpose of securing the Obligations.  Lessee acknowledges and agrees that,
upon the occurrence of a Credit Agreement Event of Default and subject to the
terms of the Lease, the Agent on behalf of the Lenders shall have the right to
exercise any and all of its remedies hereunder as against the Collateral.

          Lessee expressly agrees that the rights of the Agent and the Lenders,
under the Security Agreement, shall in no way be affected or impaired by reason
of the occurrence of any of the following events: (i) the waiver by the Agent or
the Lenders of the performance or observance by the Borrower, Lessee or any
other party of any terms of the Operative Agreements; (ii) the extension, in
whole or in part, of the time for payment by the Borrower of any sums owing or
payable under the Operative Agreements; (iii) any failure, delay or inability of
the Agent or the Lenders in enforcing any remedies or any other provisions under
the Operative Agreements; (iv) the occurrence of any event described in Section
7.1(1) of the Credit Agreement; or (v) the inability of the Borrower to perform
(or the release of the Borrower's performance) under the Operative Agreements
due to any Legal Requirement.  Notwithstanding the foregoing, Lessee shall not
have any personal liability under this Security Agreement and Joinder in excess
of its personal liability under the Guaranty and the other Operative
Agreements.

          This Joinder shall be considered part of the Security Agreement to
which it is attached, and all references in the Operative Agreements to the
Security Agreement shall mean the Security Agreement together with this Joinder.
<PAGE>

          All capitalized terms used herein and not otherwise defined herein
shall have the meaning ascribed to such terms in the Security Agreement.

          This Joinder has been duly executed by Lessee as of March 13, 2000.

                              HANOVER COMPRESSION INC.

                              By:  ____________________________
                                   Name:
                                   Title:<PAGE>

                                                                   EXHIBIT 10.47

                   ASSIGNMENT OF LEASES, RENTS AND GUARANTEE

                                     from

                         HANOVER EQUIPMENT TRUST 2000A

                                      to

                 THE CHASE MANHATTAN BANK, as Agent, Assignee

                                March 13, 2000
<PAGE>

                   ASSIGNMENT OF LEASES, RENTS AND GUARANTEE

          THIS ASSIGNMENT OF LEASES, RENTS AND GUARANTEE dated as of March 13,
2000 (this "Assignment"), made by HANOVER EQUIPMENT TRUST 2000A, a Delaware
business trust (the "Assignor"), to THE CHASE MANHATTAN BANK, a New York banking
corporation, in its capacity as Agent (in such capacity, the "Assignee"), under
the Credit Agreement dated as of the date hereof (as amended, supplemented or
otherwise modified from time to time, the "Credit Agreement") among the
Assignor, the Assignee and the financial institutions from time to time parties
thereto (the "Lenders").

                             Preliminary Statement

          A.  On date hereof, the Assignor and Hanover Compression Inc. (the
"Lessee") entered in a Lease whereby the Assignor agreed to lease certain
Equipment to the Lessee.  Pursuant to the Lease, on the date that any Equipment
is acquired by the Assignor, the Assignor and the Lessee shall execute and
deliver a Lease Supplement to subject such Equipment to the Lease.
Simultaneously with the execution of the Lease, the Guarantor entered into a
Guarantee which, among other obligations, guarantees all of the Lessee's
obligations under the Lease.

          B.  Pursuant to the Credit Agreement, the Lenders have severally
agreed to make Loans to the Assignor in an aggregate amount not to exceed
$[194,000,000] upon the terms and subject to the conditions set forth therein,
to be evidenced by the Notes issued by the Assignor under the Credit Agreement.

          C.  It is a condition, among others, to the obligation of the Lenders
to make their respective Loans to the Assignor under the Credit Agreement that
the Assignor shall have executed and delivered, and the Lessee and the Guarantor
shall have consented to, this Assignment to the Assignee for the ratable benefit
of the Lenders and the Investors, as provided for in the Credit Agreement.

          NOW, THEREFORE, in consideration of the foregoing, the parties hereto
agree as follows:

          1.  Defined Terms.  Capitalized terms used but not otherwise defined
in this Assignment shall have the respective meanings specified in Annex A to
the Participation Agreement dated as of the date hereof among the Lessor, the
Lessee, the Investors, the Trust Company, the Agent and the Lenders named
therein, as such Participation Agreement may be amended, supplemented or
otherwise modified from time to time.  A copy of the Participation Agreement or
of the other agreements referenced herein or therein may be obtained from any of
the parties hereto at the addresses set forth herein.
<PAGE>

                                                                               2

          2.  Assignment.  The Assignor hereby irrevocably assigns, transfers,
sets over and conveys to the Assignee, all the following-described property
relating to or arising in connection with the Equipment, whether now owned or
held or hereafter acquired, exclusively and without any reservation thereof unto
the Assignor:

          (a) All of the estate, right, title, interest, benefits, powers and
     privileges of the Assignor, as lessor, under the Lease, as the Lease is
     supplemented from time to time pursuant to one or more Lease Supplements,
     including, without limitation, (i) the immediate and continuing right to
     make claim for, receive, collect and receipt for all rents, income,
     revenues, issues, profits, insurance proceeds, sales proceeds and other
     sums payable to or receivable by the Assignor under the Lease, or pursuant
     to any provisions thereof, whether as rent or as the purchase price or
     termination payment for any interest in the Equipment or otherwise
     (including, without limitation, the Maximum Residual Guarantee Amount, the
     Purchase Option Price, Termination Value, Basic Rent, Supplemental Rent,
     Investor Yield and any sales proceeds payable to the Assignor pursuant to
     the Lease) (collectively, the "Lease Rents"), including all cash,
     securities or letters of credit, if any, delivered or deposited pursuant
     thereto to secure performance by the Lessee of its obligations thereunder,
     (ii) the right and power (which right and power are coupled with an
     interest) upon the purchase by the Lessee of the interest of the Assignor
     in the Equipment in accordance with the Lease to execute and deliver as
     irrevocable agent and attorney-in-fact of the Assignor an appropriate
     instrument necessary to convey the interest of the Assignor therein, or to
     pay over or assign to the Assignee those sums to which it is entitled if
     the Lessee becomes obligated to purchase the interest of the Assignor in
     the Equipment and to perform all other necessary or appropriate acts as
     said agent and attorney-in-fact with respect to any such purchase and
     conveyance, (iii) the right to perform all other necessary or appropriate
     acts as said agent and attorney-in-fact with respect to any purchase or
     conveyance referred to in clause (ii) above, (iv) the right to declare the
     Lease to be in default under Section 17.1 thereof, (v) the right to
     exercise remedies under or with respect to the Lease, (vi) the right to
     make all waivers and agreements on behalf of the Assignor under the Lease
     provided for or permitted under the Lease, (vii) the right to give all
     notices, consents, releases and other instruments provided under the Lease,
     (viii) the right to give all notices of default and to take all action upon
     the happening of a Lease Default or a Lease Event of Default, including the
     commencement, conduct and consummation of proceedings as shall be permitted
     under any provision of the Lease, or by law or in equity, (ix) the right to
     receive all notices sent to the Assignor under the Lease, (x) the
     Assignor's interest under the Lease in the Lessee's tangible and intangible
     property used or arising in connection with the Equipment, including, but
     not limited to, permits, licenses, contract rights and prepaid expenses,
     (xi) the grant of lien and security interest by the Lessee pursuant to the
     Lease; and (xii) the right to do any and all other things whatsoever which
     the Assignor is or any lessor or mortgagor or secured party is, or may be
     entitled to do under the Lease; provided that the Assignor shall retain,
     and the Lease Rents shall not include, the Excepted Payments and the Lessor
     shall retain, and the rights and powers assigned herein shall in no event
     include, the Excepted Rights and shall be subject to the Shared Rights.

          (b) All of the estate, right, title, interest, benefits, powers and
     privileges of the Assignor, to and under all other leases, subleases or
     licenses of the Equipment, any license, concession, management or other
     agreements of a similar kind that permit the use
<PAGE>

                                                                               3

     or occupancy of the Equipment or any part thereof for any purpose in return
     for any payment, now or hereafter entered into by the Assignor
     (collectively, the "Other Leases" and, together with the Lease, the
     "Leases"), together with all estate, rights, title, interest, benefits,
     powers and privileges of the Assignor, as lessor, under the Other Leases
     including the immediate and continuing right to make claim for, receive,
     collect and receipt for all charges, fees, income, issues, profits,
     receipts, rents, revenues or royalties payable under any of the Other
     Leases (collectively, the "Other Lease Rents") and all estate, right, title
     and interest of the Assignor thereunder, including all cash, securities or
     letters of credit, if any, delivered or deposited thereunder to secure
     performance by the lessees under Other Leases of their obligations
     thereunder; provided that the Assignor shall retain, and the Lease Rents
     shall not include, the Excepted Payments and the Lessor shall retain and
     the rights and powers assigned herein shall in no event include the
     Excepted Rights and shall be subject to the Shared Rights.

          (c) All of the estate, right, title, interest, benefits, powers and
     privileges of the Assignor, to and under all agreements or contracts for
     the sale or other disposition of all or any part of the Equipment, now or
     hereafter entered into by the Assignor (collectively, the "Contracts"),
     together with all estate, rights, title, interest, benefits, powers and
     privileges of the Assignor under the Contracts including, without
     limitation, the immediate and continuing right to make claim for, receive,
     collect and receipt for all charges, fees, income, issues, profits,
     receipts, rents, revenues or royalties payable under any of the Contracts
     (collectively, the "Contract Rents" and, together with the Lease Rents and
     the Other Lease Rents, the "Rents") and all right, title and interest of
     the Assignor thereunder, including all cash, securities or letters of
     credit, if any, deposited thereunder to secure performance by the obligors
     of their obligations thereunder; provided that the Assignor shall retain,
     and the Lease Rents shall not include, the Excepted Payments and the Lessor
     shall retain and the rights and powers assigned herein shall in no event
     include the Excepted Rights and shall be subject to the Shared Rights.

          (d) All of the estate, right, title, interest, benefits, powers and
     privileges of the Assignor under the Guarantee including, without
     limitation, (i) the immediate and continuing right to make claim for,
     receive, collect and receipt for all Guaranteed Obligations and other sums
     payable to or receivable by the Assignor under the Guarantee, or pursuant
     to any provisions thereof, (ii) the right to exercise remedies under or
     with respect to the Guarantee, (iii) the right to make all waivers and
     agreements on behalf of the Assignor under the Guarantee provided for or
     permitted under the Guarantee, (iv) the right to give all notices,
     consents, releases and other instruments provided under the Guarantee, and
     (v) the right to give all notices of default and to take all action as
     shall be permitted under any provision of the Guarantee or by law or in
     equity; provided that the Assignor shall retain the Excepted Payments and
     the Lessor shall retain, and the rights and powers assigned herein shall in
     no event include, the Excepted Rights and shall be subject to the Shared
     Rights.

          (e) All of the right, title and interest of the Assignor in and to all
     claims and rights to the payment of money at any time arising in connection
     with any repudiation, rejection or breach of the Lease by the Lessee or a
     trustee or receiver of the Lessee (whether pursuant to the Lease, the
     Guarantee or any Other Lease by any lessee thereunder, trustee or receiver
     of any such lessee) under any insolvency statute, law or
<PAGE>

                                                                               4
     regulation, including all rights to recover damages arising out of such
     breach or rejection, all rights to charges payable by the Lessee or such
     trustee or receiver (or by such lessee, trustee or receiver) in respect of
     the Equipment or any portions thereof following rejection, repudiation or
     disaffirmance of the Lease or following the entry of an order for relief
     under any insolvency statute, law or regulation in respect of the Lessee
     (or such lessee) and all rentals and other charges outstanding under the
     Lease (or Other Lease) as of the date of entry of such order for relief;
     provided that the Assignor shall retain and the Lease Rents shall not
     include, the Excepted Payments and the Lessor shall retain and the rights
     and powers assigned herein shall in no event include, the Excepted Rights
     and shall be subject to the Shared Rights.

The Assignor hereby agrees that any action taken by Assignee (or its designee)
pursuant to this Assignment shall be exclusive, and no party relying on such
action of the Assignee (or such designee) pursuant hereto shall be required to
obtain the concurrence or consent of the Assignor to such action or to a request
for such action.  The Assignor further agrees that this Agreement shall not
relieve Assignor from any obligations it may have as lessor under the Lease.

          3.  Receipt of Payments.  The Assignor hereby irrevocably designates
the Assignee (or its designee) to receive all payments of (i) the Lease Rents,
the Other Lease Rents and the Contract Rents and any other sums payable to the
Assignor under the Lease, any Other Lease or any Contract and (ii) all
Guaranteed Obligations and any other sums payable to the Assignor under the
Guarantee.  The Assignor agrees to direct (and hereby directs) the Lessee, any
other lessees and any contracting parties to deliver to the Assignee (or its
designee), at its address provided herein or at such other address or to such
other Person as the Assignee shall designate, all such payments and sums on
account of the Rents, and no delivery thereof by the Lessee, such other lessee
or such contracting party shall be of any force or effect unless made to the
Assignee (or its designee), as herein provided.  The Rents shall for all
purposes be considered the property of the Assignee and not of the Assignor,
whether before or after the occurrence of an Event of Default.

          4.  Receipt of Notices.  The Assignor hereby designates the Assignee
(or its designee) to receive (in addition to, and not to the exclusion of, the
Assignor) duplicate originals or copies of all notices, undertakings, demands,
statements, documents, financial statements and other communications which the
Lessee, the Guarantor, any other lessee or any contracting party is required or
permitted to give, make, deliver to or serve pursuant to the Lease, the
Guarantee, any Other Lease or any Contract.  The Assignor agrees to direct (and
hereby directs) the Lessee, the Guarantor, and such other lessees and
contracting parties to deliver to the Assignee (or its designee), at its address
provided herein or at such other address or to such other Person as the Assignee
shall designate, duplicate originals or copies of all such notices,
undertakings, demands, statements, documents, financial statements and other
communications, and no delivery thereof by the Lessee, the Guarantor, such other
lessee or such contracting party shall be of any force or effect unless made to
the Assignor and also made to the Assignee (or its designee), as herein
provided.  The Assignor further agrees that upon receipt by the Assignor of any
such notices, undertakings, demands, statements, documents, financial statements
and other communications, the Assignor shall promptly deliver copies thereof to
the Assignee unless the Assignor shall reasonably believe that the Assignee has
already received such copies.
<PAGE>

                                                                               5

          5.  Irrevocability; Supplemental Instruments.  The Assignor agrees
that this Assignment and the designation and direction to the Lessee set forth
in Sections 3 and 4 of this Assignment are irrevocable and that it will not take
any action as lessor under the Lease, or under the Guarantee, or otherwise which
is inconsistent with this Assignment and that any action, assignment,
designation or direction inconsistent herewith shall be void.  The Assignor will
from time to time execute and deliver all instruments of further assurance and
do such further acts as may be necessary or proper to carry out more effectively
the purpose of this Assignment.

          6.  Validity.  The Assignor represents and warrants and covenants to
the Assignee that (i) the Assignor has not assigned or executed any assignment
of, and will not assign or execute any assignment of its interest in the Lease,
of the Guarantee, of any Other Lease, of any Contract or of any Rents or of any
other subject matter of this Assignment to anyone other than the Assignee and
any assignment, designation or direction by the Assignor inconsistent herewith
shall be void, (ii) no Lease Event of Default has occurred and is continuing and
(iii) the Assignor has not done any act or executed any document that impairs
the rights of the Assignee to the Lease or the Lease Rents or to the Guarantee
under this Assignment.

          7.  The Assignor Remains Liable.  While the assignment made hereby is
present, direct, absolute and continuing, it has been made for the purpose of
providing the Assignee with security for the performance of the Assignor's
obligations under the Credit Agreement and the Notes and the execution and
delivery hereof shall not impair or diminish in any way the obligations of the
Assignor under the Lease or impose any of such obligations on the Assignee.
Neither the Assignee nor its designee shall be responsible or liable for
performing any of the obligations of the Assignor under the Lease, any Other
Lease or any Contract, for any waste by the Lessee or others, for any dangerous
or defective conditions of the Equipment, for negligence in the management,
upkeep, repair or control of the Equipment or any other act or omission by any
other Person.  Nothing contained herein shall operate or be construed to (i)
obligate the Assignee (or its designee) to assume the obligations of the
Assignor under the Lease, any Other Lease or any Contract, to perform any of the
terms and conditions contained in the Lease, any Other Lease or any Contract or
otherwise to impose any obligation upon the Assignee with respect to the Lease,
any Other Lease or any Contract or (ii) place upon the Assignee (or its
designee) any responsibility for the operation, control, care, management or
repair of any of the Equipment or any part thereof.  Subject at all times to the
terms and conditions of this Assignment, the Assignor will at all times promptly
and faithfully perform in all respects, or cause to be performed in all
respects, all of its covenants, conditions and agreements contained in the
Lease, any Other Lease or any Contract now or hereafter existing on the part of
the Assignor to be kept and performed.

          8.  Amendments; Lessee's Consent.  The Assignor will not enter into
any agreement subordinating, amending, extending or terminating the Lease or the
Guarantee without the prior written consent thereto of the Assignee, which
consent may be withheld in Assignee's sole discretion, and any such attempted
subordination, amendment, modification, extension or termination without such
consent shall be void.  If the Lease, the Guarantee, any Other Lease or any
Contract shall be amended, it shall continue to be subject to the provisions
hereof without the necessity of any further act by any of the parties hereto.
The Assignor and the Assignee hereby consent to the provisions of Lessee's and
Guarantor's Consent attached to this Assignment and agree to be bound thereby.
<PAGE>

                                                                               6

          9.  Absolute Assignment.  The Assignor has, subject to and in
accordance with the terms and conditions of this Assignment, assigned and
transferred unto the Assignee all of the Assignor's right, title and interest in
and to Rents now or hereafter arising from (i) the Lease, any Other Lease or any
Contract heretofore or hereafter made or agreed to by the Assignor and (ii) the
Guarantee, it being intended to establish an absolute transfer and assignment,
subject to and in accordance with the terms and conditions of this Assignment,
of all such Rents, Guaranteed Obligations, the Lease, the Guarantee, the Other
Leases and the Contracts to the Assignee and not merely to grant a security
interest therein.  Subject to the terms of the Lease and Lessee's rights
thereunder, the Assignee (or its designee) may in the Assignor's name and stead
operate the Equipment and rent, lease or let all or any portion of the Equipment
to any party or parties at such rental and upon such terms as the Assignee (or
its designee) shall, in its discretion, determine.

          10.  Ongoing Right to Collect Rents; Receivers.  If notwithstanding
the terms of this Assignment, a petition or order for sequestration of rents, or
the appointment of a receiver or some similar judicial action or order is deemed
required under applicable state law to allow the Assignee to continue to collect
the moneys described in paragraphs 2 (a), (b), (c), (d) and (e) of this
Assignment, then it is agreed by the Assignor that any proof of claim or similar
document filed by the Assignee in connection with the breach or rejection of the
Lease by the Lessee thereunder or the trustee of any lessee under any federal or
state insolvency statute shall for the purpose of perfecting the Assignee's
rights conferred in said paragraph 2(e) and to the extent permitted under
applicable law be deemed to constitute action required under such state law.
Upon the occurrence and during the continuance of an Event of Default, the
Assignor hereby consents to the appointment of a receiver for any or all of the
Equipment as a matter of right and without any requirement for notice to the
Assignor and without regard to the solvency of the Assignor or to the collateral
that may be available for the satisfaction of the Notes and all other
obligations under the Credit Agreement and the other Operative Agreements.

          11.  Amendment.  This Assignment may not be amended or otherwise
modified except by a writing signed by the Assignor and the Assignee in
accordance with the terms of the Credit Agreement.

          12.  Notices.  All notices, demands, requests, consents, approvals and
other instruments under this Assignment shall be made in accordance with the
notice provisions of the Participation Agreement.

          13.  Successors and Assigns.  All covenants, agreements,
representations and warranties in this Assignment by the Assignor and the
Assignee shall bind, and shall inure to the benefit of and be enforceable by,
their respective successors and permitted assigns.

          14.  Severability.  If any provision or provisions, or if any portion
of any provision or provisions, in this Assignment is found by a court of law of
competent jurisdiction to be in violation of any local, state or Federal
ordinance, statute, law, administrative or judicial decision, or public policy,
and if such court should declare such portion, provision or provisions to be
illegal, invalid, unlawful, void or unenforceable as written, then it is the
intent of the parties hereto that such portion, provision or provisions shall be
given force to the fullest possible extent that they are legal, valid and
enforceable, that the remainder of this Assignment shall be construed as if such
illegal, invalid, unlawful, void or unenforceable portion, provision or
<PAGE>

                                                                               7

provisions were not contained therein, and that the obligations of the Assignor
under the remainder of this Assignment shall continue in full force and effect.

          15.  Governing Law.  THIS ASSIGNMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK,
EXCEPT AS TO MATTERS RELATING TO THE CREATION OF LIENS AND THE EXERCISE OF
REMEDIES WITH RESPECT THERETO, WHICH SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE IN WHICH THE EQUIPMENT IS LOCATED.

          16.  Obligations Are Without Recourse.  Anything to the contrary
herein notwithstanding, the Assignor's liability for any sums due hereunder
shall be limited in accordance with Section 9.17 of the Credit Agreement.

          17.  Counterparts.  This Assignment may be executed in any number of
counterparts, each of which shall be an original, but all of which together
shall constitute one and the same instrument.
<PAGE>

          IN WITNESS WHEREOF, the Assignor has caused this Assignment to be duly
executed as of the day and year first above written.

                              HANOVER EQUIPMENT TRUST 2000A
                              By:  Wilmington Trust Company,
                              not in its individual capacity but
                              solely as Trustee

                              By:  ___________________________
                                    Name:
                                    Title:

By execution of this Assignment the Investors hereby irrevocably assign,
transfer, set over and convey to the Assignee all of the estate, right, title,
interest, benefits, powers and privileges of the Investors under the Guarantee
which transfer shall be in accordance with all of the terms and provisions of
this Assignment.

                              FIRST UNION NATIONAL BANK, as an Investor

                              By: ___________________________
                                   Name:
                                   Title:

                              SCOTIABANC INC., as an Investor

                              By: ___________________________
                                   Name:
                                   Title:
<PAGE>

                       LESSEE'S AND GUARANTOR'S CONSENT

          As of this 13th day of March, 2000, HANOVER COMPRESSOR COMPANY, a
Delaware corporation, HANOVER COMPRESSION INC., a Delaware corporation
("Lessee"), and certain of their Subsidiaries listed on the signature pages
hereto (collectively the "Guarantors", individually a "Guarantor"), hereby
consent and agree to all of the terms of the Assignment of Leases, Rents and
Guarantee dated as of the date hereof (the "Assignment") made by HANOVER
EQUIPMENT TRUST 2000A, a Delaware business trust ("Assignor"), and joined in by
First Union National Bank and ScotiaBanc Inc., a Delaware corporation, in favor
of The Chase Manhattan Bank, as Agent under the Credit Agreement dated as of the
date hereof (as amended, supplemented or otherwise modified from time to time,
the "Credit Agreement") among the Assignor, the Agent and the financial
institutions from time to time parties thereto (the "Lenders"), and further
agree as follows:

          1.  Definitions.  Each capitalized term used herein and not otherwise
defined herein shall have the respective meanings ascribed thereto in the
Assignment, as such Assignment may be amended, supplemented or otherwise
modified from time to time.

          2.  Acknowledgments, Confirmations and Agreements.  (a) The Lessee
acknowledges, confirms and agrees that: (i) the Lessee has the right, power and
authority to enter into this consent (this "Consent"); (ii) the Lease is in full
force and effect and enforceable in accordance with its terms; (iii) neither the
Lessee nor, to the Lessee's knowledge, the Assignor is in default in the
observance or performance of any condition or agreement to be observed or
performed by the Lessee or the Assignor, respectively, thereunder; (iv) no Lease
Rents have been paid by the Lessee except as provided in the Lease; (v) no Rent
has been waived, released, reduced, discounted or otherwise discharged or
compromised by the Assignor; and (vi) the Lessee has not received notice of any
other assignment of the Lessor's interest in the Lease.

          (b)  The Guarantors acknowledge, confirm and agree that:  (i) the
Guarantors have the right, power and authority to enter into this Consent; and
(ii) the Guarantee is in full force and effect and enforceable in accordance
with its terms.

          3.  Consent.  (a)  The Lessee, as lessee under the Lease, consents to
the Assignment and each of the terms thereof, and agrees to pay and deliver to
the Assignee (or its designee) all Lease Rents and other sums payable under the
Lease without any offset, deduction, defense, abatement, deferment, diminution
or counterclaim, and the Lessee will not assert any offset, deduction, defense
(other than the defense of payment to the Assignee (or its designee)),
abatement, deferment, diminution or counterclaim in any proceeding brought under
the Assignment or with respect to the transactions contemplated therein or
herein.  The Lessee will not, for any reason whatsoever, seek to recover from
the Assignee (or its designee) any moneys paid to the Assignee (or its designee)
by virtue of the Assignment.   Lessee agrees (i) to deliver to the Assignee (or
its designee) and the Assignor, at their addresses provided in the Participation
Agreement or at such other addresses as the Assignee or the Assignor, as the
case may be, may designate, duplicate original or copies of all notices,
undertakings, demands, statements, documents and other communications which the
Lessee is required or permitted to deliver pursuant to the Lease or the
Assignment; (ii) that, subject to the Excepted Rights, any notice delivered or
declaration made to the Lessee by the Assignee (or its designee) pursuant to the
<PAGE>

Lease shall be effective as a notice given or declaration made to the Lessee by
the Assignor as lessor under the Lease; (iii) that the Assignee (and its
designee) shall not by reason of the Assignment be subject to any liability or
obligation under the Lease; and (iv) that, subject to the Excepted Rights, any
waiver, consent or approval by the Assignor under the Lease shall not be valid
unless approved in writing by the Assignee (or its designee).

          (b)  The Guarantors consent to the Assignment and each of the terms
thereof, and agrees to pay and deliver to the Assignee (or its designee) the
Guaranteed Obligations, subject to the Excepted Rights, and other sums payable
under the Guarantee without any offset, deduction, defense, abatement,
deferment, diminution or counterclaim, and the Guarantors will not assert any
offset, deduction, defense (other than the defense of payment to the Assignee
(or its designee)), abatement, deferment, diminution or counterclaim in any
proceeding brought under the Assignment or with respect to the transactions
contemplated therein or herein.  The Guarantors will not, for any reason
whatsoever, seek to recover from the Assignee (or its designee) any moneys paid
to the Assignee (or its designee) by virtue of the Assignment.

          (c) Subject to the Excepted Rights, the Lessee shall cause the Lease
Rents and other sums payable to the Assignor under the Lease to be delivered to
the Assignee (or its designee), as agent under the Credit Agreement, as an
absolute net sum, in such manner that the Assignee (or its designee) shall have
"collected funds" on the date and at the time payments are due under the Lease.

          (d)  The Guarantors shall cause the Guaranteed Obligations, subject to
the Excepted Rights, and other sums payable to the Assignor under the Guarantee
to be delivered to the Assignee (or its designee), as agent under the Credit
Agreement, at its address set forth in Section 13.3 of the Participation
Agreement.

          (e) The Lessee hereby agrees to remain obligated under the Lease and
this Consent in accordance with their respective terms, and to take no action to
terminate (except in accordance with the express terms of the Lease), annul,
rescind or avoid the Lease or this Consent or to abate, reduce, offset, suspend
or defer or make any counterclaim or raise any defense (other than the defense
of payment to the Assignee (or its designee)) with respect to the Lease Rents
payable thereunder or to cease paying such Lease Rents to the Assignee (or its
designee) as provided herein.

          (f)  The Guarantors hereby agree to remain obligated under the
Guarantee and this Consent in accordance with their respective terms, and to
take no action to terminate (except in accordance with the express terms of the
Guarantee), annul, rescind or avoid the Guarantee or this Consent or to abate,
reduce, offset, suspend or defer or make any counterclaim or raise any defense
(other than the defense of payment to the Assignee (or its designee)) with
respect to the Guaranteed Obligations payable thereunder.

          (g) The Lessee and the Guarantors hereby agree that upon the
occurrence of a Default or an Event of Default, the Assignee (or its designee)
shall have the right to deliver a notice of such default and make demand for
payment under the Guarantee, which shall be effective for all purposes as if
sent by the Assignor.

          (h) The Lessee shall notify the Assignee (or its designee) at its
address specified in the Participation Agreement, or such other address as the
Assignee may designate, of
<PAGE>

any Lease Event of Default and agrees that no such default shall entitle the
Lessee to terminate, annul, rescind or avoid the Lease or reduce or abate the
Lease Rents or other sums payable thereunder.

          4.  Amendment or Termination; Assignee's Designation.  (a) The Lessee
agrees that it will not, unilaterally or by agreement, subordinate, amend,
supplement, modify, extend (except in accordance with the express terms of the
Lease), discharge, waive or terminate (except in accordance with the express
terms of the Lease) the Lease or this Consent or any provision of any thereof
without the Assignee's prior written consent, which consent may be withheld in
the Assignee's sole discretion, and that any attempted subordination, amendment,
supplement, modification, extension, discharge, waiver or termination without
such consent shall be null and void.  In the event that the Lease shall be
amended or supplemented as herein permitted, the Lease, as so amended or
supplemented, shall continue to be subject to the provisions of the Assignment
and this Consent without the necessity of any further act by any of the parties
hereto.  Nothing in this Section 4 shall be construed as limiting or otherwise
affecting in any way the Assignor's Excepted Rights or Shared Rights.

          (b)  The Guarantors agree that they will not, unilaterally or by
agreement, subordinate, amend, supplement, modify, extend (except in accordance
with the express terms of the Guarantee), discharge, waive or terminate (except
in accordance with the express terms of the Guarantee) the Guarantee or this
Consent or any provision of any thereof without the Assignee's prior written
consent, which consent may be withheld in the Assignee's sole discretion, and
that any attempted subordination, amendment, supplement, modification,
extension, discharge, waiver or termination without such consent shall be null
and void.  In the event that the Guarantee shall be amended or supplemented as
herein permitted, the Guarantee, as so amended or supplemented, shall continue
to be subject to the provisions of the Assignment and this Consent without the
necessity of any further act by any of the parties hereto.  Nothing in this
Section 4 shall be construed as limiting or otherwise affecting in any way the
Assignor's Excepted Rights or Shared Rights.

          5.  Continuing Obligations of the Assignor and the Lessee.  Neither
the execution and delivery of the Assignment, nor any action or inaction on the
part of the Assignee shall impair or diminish any obligations of the Assignor or
the Lessee under the Lease or the Guarantors under the Guarantee, and shall not
impose on the Assignee (or its designee) any such obligations, nor shall it
impose on the Assignee (or its designee) a duty to produce Rents or cause the
Assignee to be a mortgagee in possession for any purpose.

          6.  Severability.  If any provision or provisions, or if any portion
of any provision or provisions, in this Consent is found by a court of law of
competent jurisdiction to be in violation of any local, state or Federal
ordinance, statute, law, administrative or judicial decision, or public policy,
and if such court should declare such portion, provision or provisions to be
illegal, invalid, unlawful, void or unenforceable as written, then it is the
intent of the Lessee that such portion, provision or provisions shall be given
force to the fullest possible extent that they are legal, valid and enforceable,
that the remainder of this Consent shall be construed as if such illegal,
invalid, unlawful, void or unenforceable portion, provision or provisions were
not contained herein, and that the obligations of the Lessee under the remainder
of this Consent shall continue in full force and effect.
<PAGE>

          7.  Governing Law.  THIS CONSENT SHALL BE GOVERNED BY, AND CONSTRUED
AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, EXCEPT AS TO
MATTERS RELATING TO THE CREATION OF LIENS AND THE EXERCISE OF REMEDIES WITH
RESPECT THERETO, WHICH SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE IN WHICH THE EQUIPMENT IS LOCATED.
<PAGE>

IN WITNESS WHEREOF, the Lessee and the Guarantors have caused this Consent to be
duly executed as of the date first written above.

                              HANOVER COMPRESSOR COMPANY, as a
                              Guarantor

                              By:  ______________________________
                                    Name:
                                    Title:

                              HANOVER COMPRESSION INC., as Lessee and Guarantor

                              By:  ______________________________
                                    Name:
                                    Title:

                              HANOVER COMPRESSOR LIMITED HOLDINGS, LLC, as a
                              Guarantor

                              by Hanover General Holdings, Inc.,
                              as sole member

                              By: ___________________________
                                   Name:
                                   Title:

                              HANOVER MAINTECH LIMITED PARTNERSHIP, as a
                              Guarantor

                              by Hanover General Holdings, Inc.,
                              as general partner

                              By: ___________________________
                                   Name:
                                   Title:
<PAGE>

                              HANOVER/SMITH LIMITED PARTNERSHIP,
                              as a Guarantor

                              by Hanover General Holdings, Inc.,
                              as general partner

                              By:____________________________
                                  Name:
                                  Title:
<PAGE>

                                  HANOVER LAND LIMITED PARTNERSHIP,
                                  as a Guarantor

                                  by Hanover General Holdings, Inc.,
                                  general partner

                                  By:________________________________
                                      Name:
                                      Title:

For purposes of Section 5 hereof:

HANOVER EQUIPMENT TRUST 2000A

By:  Wilmington Trust Company, not in
its individual capacity but solely
as Trustee

By:  ______________________________
     Name:
     Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}]]