COLLATERAL ASSIGNMENT OF MONEYS DUE OR TO BECOME DUE UNDER PROMISSORY NOTE

Asset Exchange Agreement

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CORNING NATURAL GAS CORP | COMMUNITY BANK,

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Title: COLLATERAL ASSIGNMENT OF MONEYS DUE OR TO BECOME DUE UNDER PROMISSORY NOTE
Date: 12/12/2005

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COLLATERAL ASSIGNMENT

OF MONEYS DUE OR TO BECOME DUE

UNDER PROMISSORY NOTE

For value received and as collateral security for repayment of any and all indebtedness of CORNING NATURAL GAS CORPORATION (herein, "CNG") now existing or hereafter arising owing to COMMUNITY BANK, N.A. (herein, the "Bank"), including, without limitation, all amounts advanced or re-advanced by the Bank to CNG pursuant to a $5,600,000 Line of Credit (Loan #4280406 0101) and/or a $1,000,000 Line of Credit (Loan #4280406 0501), CORNING NATURAL GAS APPLIANCE CORPORATION, the undersigned, hereby as

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