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<br />N <br />S <br />S <br />OJ <br />o <br />N <br />0) <br />0) <br />o <br /> <br /> <br /> <br />\\C <br />K. <br /> <br />~ <br />~,' <br />~ <br />( , <br />~ <br />$t' <br />t <br /> <br /> r--.:> <br /> ~ = ('") (j) <br /> ~ n <=> o -i om <br /> m co N~ <br /> f! ~ ~, =3 el> <br /> m :::0 ~'- z-i m <br />n z n ::r ;;:0 -if'Tl 0:0 <br /> m ').. = <br />X ~ 0 A 0~ -<0 o[g <br />m ~ 0"" c..,) 0-" <br />ncn ,., ....... -"z CD 6; <br />~::t: C!\ 0 ~ :r. fTl 0- <br /> rfl t :D :Do en Z <br /> () r"'1 ::3 ,::0 ~cn <br /> 0 r l> -f <br /> (/'J .......... (j') en:O <br /> ~ .......... :;><;; c: <br /> l> en s: <br /> l). 0"1 -- Om <br /> c..,) (J') ~ <br /> C;ri <br /> z <br /> 0 <br /> <br />50 <br />r:{). <br />:;; <br /> <br />ASSIGNMENT OF RENTS AND LEASES <br /> <br />THIS ASSIGNMENT OF RENTS AND LEASES (the "Assignment") IS made and <br />entered into this $'day of March, 2008 by and between <br /> <br />SCANNELL PROPERTIES #106, LLC, an Indiana limited liability company, 800 East <br />96th Street, Suite 175, Indianapolis, Indiana 46240 ("hereinafter the "Assignor"); <br /> <br />and <br /> <br />REGIONS BANK, an Alabama banking corporation, 1900 Fifth Avenue North, 15th <br />Floor, Birmingham, Jefferson County, Alabama 35203 (hereinafter called "Assignee"). <br /> <br />PRELIMINARY STATEMENT OF FACTS: <br /> <br />A. The Assignee is making to the Assignor a loan in the maximum stated amount of <br />TWO MILLION FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($2,500,000.00) (the <br />"Loan"). <br /> <br />B. To evidence the Loan, Assignor has granted to Assignee its Promissory Note of <br />even date herewith in the maximum stated principal amount of $2,500,000.00 (the "Note"), <br />bearing interest as provided therein, said principal and interest being due and payable no later <br />than September 10, 2009 (the "Maturity Date"). <br /> <br />C. As security for the repayment of the Note, the Assignor is executing and <br />delivering to the Assignee its Construction Security Agreement, Deed of Trust, Security <br />Agreement and Fixture Financing Statement of even date herewith (herein the "Deed of Trust") <br />mortgaging that certain real property more fully described in Exhibit A attached hereto (herein <br />the "Premises"). <br /> <br />D. As further security for the repayment of the Note and performance of all <br />obligations under the Note, any Hedge Agreement as such term is defined in the Construction <br />Loan Agreement by and bctween the Assignor, a certain Guarantor named therein, and Assignee <br />of even date herewith (the "Loan Agreement") and all instruments securing payment thereof <br />and all renewals, amendments, substitutions, extensions and modifications thcreof, the Assignor <br />is executing and delivering to the Assignee this Assignment. <br /> <br />AM 157:0AM57:666690:3:LOUISYILLE <br />3/19108 <br />