Exhibit 10.17

                             ASSIGNMENT AGREEMENT

     THIS  ASSIGNMENT  AGREEMENT  made this  29th day of  August,  1997,  by and
between  Preferred  Investment  Services,  Inc.,  with  its  principal  place of
business  at One  East  Wacker  Drive,  Suite  3622,  Chicago,  Illinois  60601,
("Assignor")  and BNC National Bank, a National  Banking  Association,  with its
principal  place of business at 322 East Main  Street,  Bismarck,  North  Dakota
58501 ("Assignee").


                                 WITNESSETH:

                                      I

      Assignor,  for and in consideration of the payment to Assignor by Assignee
of  the  sum of One  Dollar  ($1.00)  in  cash,  and  other  good  and  valuable
consideration,  the receipt and  sufficiency  of which are hereby  acknowledged,
does hereby  sell,  assign,  transfer and convey unto  Assignee  and  Assignee's
successors and assigns,  all of Assignor's  right,  title and interest in and to
the following (collectively, the "Contracts");


      (a)   All rights,  privileges,  and interests in the Management  Agreement
            dated  between  Preferred  Investment  Services,  Inc. and Preferred
            Pension Investors I-87, an Illinois  Partnership,  including but not
            limited to  Assignor's  right to the third  quarter 1997  management
            fees.
      (b)   All   books   and   records,    historical   billing    information,
            correspondence  files,  customer files or any other business records
            relating to or used in connection with the servicing of the contract
            mentioned in subparagraph (a) above.


                                      II


      Assignor represents, covenants and warrants that:


B.    True,  correct and complete  copies of the  Contract  and all  amendments,
      modifications,  supplements  and  exhibits  thereto have  heretofore  been
      provided to Assignee.


B.    Assignor has not previously sold, assigned, transferred or conveyed all or
      any part of its right,  title and  interest in and to the Contract and the
      right,  title and  interest of Assignor in and to the Contract is free and
      clear of all security interests, pledges, chattel mortgages, liens, taxes,
      charges, encumbrances, counterclaims, rights of set-off and adverse claims
      whatsoever.


C.    Assignor  has  full and  complete  right,  power  and  authority  to sell,
      transfer, assign and convey all of its right, title and interest in and to
      the Contract, and Assignor has obtained all consents


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      necessary or appropriate in order to validly and effectively sell, assign,
      transfer and convey to Assignee all right,  title and interest of Assignor
      in and to the Contract.

D.    The Contract has been  terminated or is in default as a result of any acts
      or  omissions of Assignor  and the  Contract is valid and  enforceable  by
      Assignee  in  accordance  with its  terms  and the  Contract  is free from
      set-off, counterclaim and defense of any nature.

E.    Assignor has not breached and is not in default under the Contract and the
      execution and performance of this Assignment Agreement will not constitute
      or result in a breach of or a default under the Contract.

F.    Assignor  warrants  and will  defend  the  right,  title and  interest  of
      Assignor  and  Assignee in and to the  Contract  against the claims of all
      persons whosoever.

G.    Assignor  agrees that a copy of this  Assignment  Agreement  can be relied
      upon as if it were an original.

                                     III

      Assignee,  for and in  consideration of the above assignment and the above
representations,  covenants  and  warranties  of  Assignor,  and other  good and
valuable  consideration,  the  receipt  and  sufficiency  of  which  are  hereby
acknowledged,  does hereby assume the future  obligations  of Assignor under the
Contract  and  agrees  to  observe  and  perform  all of the  terms,  covenants,
conditions  and provisions of the Contract  therein  provided to be observed and
performed by Assignor  from and after the date  hereof,  except  liabilities  or
obligations accrued prior to the date hereof.

IN  WITNESS  WHEREOF,  Assignor  and  Assignee  have  executed  this  Assignment
Agreement as of the day and year first above written.


      "ASSIGNOR"                    "ASSIGNEE"

PREFERRED INVESTMENT                BNC NATIONAL BANK
SERVICES, INC.


By:\s\ Elliott Simon                By: \s\ Tracy J. Scott
ELLIOTT SIMON                       TRACY J. SCOTT
Its President                       Its CEO