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<br />Recording Requested By, en (.-) <; ~.- N o "'T1 c:> a
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<br />And After Recording, Return To: '"'") 0:::> en
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<br />WELLS FARGO BANK, r-n F\ '0 ::0 J> nJ c:>
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<br />NATIONAL ASSOCIATION 0 ~ r :>:>- CJ?-f
<br />Phoenix Real Estate Resource Center (J:J ~ (f) N~
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<br />100 West Washington Street, 11th Floo l> ...........==
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<br />Phoenix, AZ 85003-1808 N (f) wZ:
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<br />ASSUMPTION AGREEMENT
<br />
<br />THIS ASSUMPTION AGREEMENT (this "Agreement") is made effective as of the 19th day of May,
<br />2008, by and among GIAET, L.L.C. ("Original Trustor"), GMD, L.L.C. ("Transferee"), and WELLS FARGO
<br />BANK, NATIONAL ASSOCIATION ("Bank").
<br />
<br />RECITALS
<br />
<br />WHEREAS, Transferee obtained a loan from Bank evidenced by, and subject to the terms of, that
<br />certain promissory note dated as of February 22, 2008, in the original principal amount of $2,100,000.00
<br />(the "Note"), which Note is secured by a construction deed of trust dated as of February 22, 2008,
<br />executed by the Original Trustor to Wells Fargo Financial National Bank, as trustee, for the benefit of
<br />Bank, as beneficiary, and recorded on February 25,2008, as Instrument No. 200801498 of the Official
<br />Records of Hall County, Nebraska ("Deed of Trust"), with respect to the real property described on Exhibit
<br />~ attached hereto and incorporated herein by this reference;
<br />
<br />WHEREAS, title to the real property encumbered by the Deed of Trust (the "Property") is being or
<br />has been transferred by Original Trustor to Transferee; and
<br />
<br />WHEREAS, Original Trustor and Transferee have requested that Bank consent to said transfer and
<br />permit the assumption by Transferee of the obligations of Original Trustor to Bank under the Deed of
<br />Trust, and Bank has agreed to said transfer and assumption on the terms and conditions contained
<br />herein.
<br />
<br />NOW, THEREFORE, in consideration of the mutual covenants and promises of the parties
<br />contained herein, the parties agree as follows:
<br />
<br />1. ASSUMPTION. Transferee hereby assumes, and will hereafter faithfully perform and be
<br />bound by all terms and conditions of, the Deed of Trust as if it was the original trustor thereto.
<br />
<br />2. RELEASE OF ORIGINAL TRUSTOR. Original Trustor is hereby released from all liability
<br />under the Deed of Trust and from any obligations accruing thereunder.
<br />
<br />3. ADDITIONAL DOCUMENTATION. In addition to this Agreement and any other contract,
<br />instrument or document required hereunder, Original Trustor and Transferee shall deliver or cause to be
<br />delivered to Bank any additional agreements or documentation required by Bank, in form and substance
<br />satisfactory to Bank, including without limitation, evidence of insurance coverage on the Property, UCC
<br />financing statements or amendments, and policies of title insurance or endorsements to existing title
<br />policies insuring the continued validity and priority of Bank's lien on the Property subject only to such
<br />exceptions as Bank shall approve in its discretion. Original Trustor and Transferee shall payor reimburse
<br />
<br />T JElGMD - Assumpt Agr 5-20-08
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