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<br />200702330
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<br />Debtor: Holiday Garden Townhouses II, A Limited Partnership, a Nebraska limited partnership
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<br />EXHIBIT B
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<br />nESCRIPTION OF COI~l..ATERAL
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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 acquisition or refinancing, repair,
<br />ownership, management and operation of a certain multifamily rental housing project known as
<br />Holiday Garden Townhouses II, FHA Project No. 103-35151 (the "Project") located on certain
<br />real estate in Grand Island, Nebraska, more particularly described in Exhibit "A" (the
<br />"Property") and owned by the Debtor:
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<br />I. All income, rents, protlts, receipts and charges from the Project.
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<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.
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<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 to the Project.
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<br />5. All of the walks, fences, shrubbery, driveways, fixtures, machinery,
<br />apparatus, equipment, fittings, 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, compreSSOfS and
<br />transformers; all generating equipment; all pumps, tanks, ducts, conduits, wire, 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 tire prevention, alarm and extinguishing systems and
<br />apparatus; all cleaning equipment; all lill, 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, retrigerators, 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 erected or
<br />to be erected in or upon the Property; and every renewal Of replacement thereof or articles in
<br />substitution therefor, whether or not the same are now or hereafter aitached to the Property in
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