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TEANAWAY COLLATERAL ASSIGNMENT (COUNTY FUNDS) 2 <br />“Sponsor Loan”) to Teanaway Court Associates LLLP (“Partnership”) for the development of a <br />mixed-use affordable housing development in Cle Elum, Washington, to be known as Teanaway <br />Court (the “Project”). <br /> <br /> Assignor is collaterally assigning the Note evidencing the Sponsor Loan, and the Deed of <br />Trust securing payment thereof, referenced below, to secure Assignor’s obligations to Assignee <br />under the County Agreement, the County Note executed by Assignor and made payable to the <br />County and the Affordable Housing Covenant recorded on or about the date hereof in the official <br />records of Kittitas County (the “County Documents”). <br /> <br /> For value received, Assignor hereby collaterally assigns to Assignee all beneficial interest <br />under that certain Deed of Trust (Sponsor Loan – County Funds) dated as of the date hereof, executed <br />by the Partnership, as Grantor, naming Assignor as Beneficiary, and First American Title Insurance <br />Company as Trustee, recorded under Recording No. _______________________, in the records <br />of Kittitas County, Washington, concerning the real property described on Exhibit A hereto (the <br />“Deed of Trust”), together with the Loan Agreement (Sponsor Loan – County Funds) (“Loan <br />Agreement”) and Promissory Note (Sponsor Loan – County Funds) referenced therein (the “Note,” <br />and, together with the Loan Agreement and Deed of Trust, the “Sponsor Loan Documents”). <br /> <br />This Assignment shall be governed in all respects by the laws of the state of Washington, <br />shall inure to the benefit of the successors and assigns of Assignor and Assignee, and shall <br />terminate upon expiration of the term of the County Documents set forth therein. <br /> <br /> <br /> <br /> <br />[Signature Pages Follow] <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />