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<br />200600755
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<br />EXHIBIT B
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<br />DESCRIPTION OF COLLATERAL
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<br />This Exhibit B refers to the following collateral, which may be now or hereafter located on the
<br />premises of, relate to, or be used in connection with, the financing, repair, ownership,
<br />management and operation of Holiday Gardens Apartments., Project No. 110335073 ("Project")
<br />located in Hall County, Nebraska and owned by Holiday Garden Townhouses, Ltd. ("Debtor").
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<br />1. All income, rents, profits, receipts, and charges from the Project.
<br />
<br />2. All accounts including without limitation the following: reserve for
<br />replacement, residual receipts, and special funds; ground rents, taxes, water rents, assessments,
<br />and fire and other hazard insurance premiums; accounts receivable; operating revenue; initial
<br />operating escrow; and escrow for latent defects.
<br />
<br />3. All insurance and condemnation proceeds; and all inventories.
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<br />4. All materials now owned or hereafter acquired by the Debtor and intended
<br />for the construction, reconstruction, alteration and repair of any building, structure of
<br />improvement now or hereafter erected or placed on the Property, all of which materials shall be
<br />deemed to be included within the Project immediately upon the delivery thereof the Project.
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<br />5. All of the walks, fences, shrubbery, driveways, fixtures, machinery,
<br />apparatus, equipment, fitting, and other goods and other personal property of every kind and
<br />description whatsoever, now owned or hereafter acquired by the Debtor and attached to or
<br />contained in and used or usable in connection with any present or future operation of the Project,
<br />including, by way of example rather than of limitation, all lighting, laundry, incinerating and
<br />power equipment; all engines, boilers, machines, motors, furnaces, compressors and
<br />transformers; all generating equipment; all pumps, tanks, ducts, conduits, wires, switches,
<br />electrical equipment and fixtures, fans and switchboards; all telephone equipment; all piping,
<br />tiling, plumbing equipment and fixtures; all heating, refrigeration, air conditioning, cooling,
<br />ventilating, sprinkling, water, power and communications equipment, systems and apparatus; all
<br />water coolers and water heaters; all fire prevention, alarm and extinguishing systems and
<br />apparatus; all cleaning equipment; all lift, elevator and escalator equipment and apparatus; all
<br />partitions, shades, blinds, awnings, screens, screen doors, storm doors, exterior and interior signs,
<br />gas fixtures, stoves, ovens, refrigerators, garbage disposals, dishwashers, cabinets, mirrors,
<br />mantles, floor coverings, carpets, rugs draperies and other furnishings and furniture installed or
<br />to be installed or used or usable in the operation of any part of the Project or facilities erecter or
<br />to be erected in or upon the Property; and every renewal or replacement thereof or articles in
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