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<br />200800519
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<br />RECORDING REQUESTED BY AND
<br />WHEN RECORDED RETURN TO:
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<br />The Midtown Niki Group
<br />3655 Nobel Drive, Suite 650
<br />San Diego, CA 92122
<br />
<br />(Space above this line for Recorder's Use Only)
<br />
<br />ASSIGNMENT OF LEASE
<br />
<br />This Assignment of Lease (this "Assiqnment") is made as of the 31st day of December, 2004
<br />(the "Effective Date"), by and between Seazona Properties, Ltd., as to an undivided 32.28%
<br />interest; Brian C. Malk Trust dated February 3, 1981, as to an undivided 25.62% interest; Peter
<br />A. Zarcades Separate Property trust dated October 29, 1980, as to an undivided 36.84%
<br />interest; and J. Gerald Lipschitz and Ann F. Lipschitz, husband and wife, as community
<br />property, as to an undivided 5.26% interest, all as tenants in common, (the "Assiqnor") and
<br />Victoria Land Partners, LP, a California limited partnership, (the "Assiqnee") with reference to
<br />the following facts:
<br />
<br />RECITALS
<br />
<br />A. Assignor is one of the owners in fee and landlord of that certain real property commonly
<br />known as 2010 W. 2nd Street, Grand Island, Nebraska 68803 and more particularly
<br />described in Exhibit "A" attached hereto and incorporated herein (the "Property").
<br />
<br />B. On or about the date hereof, Assignor has sold all of its right, title and interest in and to
<br />the Property to Assignee, including but not limited to all of Assignor's right, title and
<br />interest in and to the lease with Fazoli's Restaurants, Inc., a Kentucky corporation dated
<br />September 26, 1997, (the "Lease").
<br />
<br />C. Assignor and Assignee desire to enter into this Assignment to confirm the assignment by
<br />Assignor to Assignee of all of Assignor's right, title and interest in and to the Lease and
<br />to confirm Assignee's assumption of Assignor's obligations under the Lease effective as
<br />of the Effective Date.
<br />
<br />NOW THEREFORE, in consideration of the mutual covenants of the parties herein, and for
<br />good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
<br />the parties agree as follows:
<br />
<br />1. Assiqnment by Assiqnor. Assignor hereby sells, transfers and assigns to Assignee all of
<br />Assignor's right, title and interest in and to the Lease, effective as of the Effective Date.
<br />
<br />2. Acceptance and Assumption by Assiqnee. Assignee hereby accepts the foregoing
<br />assignment and transfer and specifically assumes and agrees to perform and observe
<br />each and every covenant, agreement and condition to be performed or observed by
<br />"Landlord" under the Lease.
<br />
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