Exhibit 10.4
 INDENTURE OF TRUST




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PageARTICLE I
DEFINITIONS; CONTENT OF CERTIFICATES AND OPINIONSSection 1.01.
    
    Definitions
    
    
    1Section 1.02.
    
    Content of Certificates and Opinions
    
    
    9Section 1.03.
    
    Interpretation
    
    
    10
 
 Section 2.01.
    
    Authorization of Notes
    
    
    10Section 2.02.
    
    Terms of the Notes
    
    
    10Section 2.03.
    
    Interest on Notes
    
    
    11Section 2.04.
    
    Conversion to Fixed Interest Rate
    
    
    12Section 2.05.
    
    Execution of Notes
    
    
    13Section 2.06.
    
    Transfer of Notes
    
    
    14Section 2.07.
    
    Exchange of Notes
    
    
    16Section 2.08.
    
    Note Registrar
    
    
    16Section 2.09.
    
    Temporary Notes
    
    
    16Section 2.10.
    
    Notes Mutilated, Lost, Destroyed or Stolen
    
    
    16Section 2.11.
    
    Absolute and Unconditional Obligations
    
    
    17Section 2.12.
    
    Book-Entry Only System
    
    
    17Section 2.13.
    
    CUSIP Numbers
    
    
    19
 
 Section 3.01.
    
    Issuance of the Notes
    
    
    20Section 3.02.
    
    Establishment and Application of Note Fund
    
    
    20
 
 Section 4.01.
    
    Terms of Redemption
    
    
    21Section 4.02.
    
    Selection of Notes for Redemption
    
    
    22Section 4.03.
    
    Notice of Redemption
    
    
    22Section 4.04.
    
    Partial Redemption of Notes
    
    
    23Section 4.05.
    
    Effect of Redemption
    
    
    23Section 4.06.
    
    Purchase of Notes by Tender Agent
    
    
    24Section 4.07.
    
    Mandatory Tender of Notes
    
    
    24




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PageARTICLE V
REVENUES; FUNDS AND ACCOUNTS; PAYMENT OF PRINCIPAL AND INTERESTSection 5.01.
    
    Pledge and Assignment; Revenue Fund
    
    
    25Section 5.02.
    
    Note Payments and Allocation
    
    
    26Section 5.03.
    
    Priority of Moneys in Revenue Fund; Letter of Credit Account
    
    
    27Section 5.04.
    
    Letter of Credit
    
    
    29Section 5.05.
    
    Investment of Moneys
    
    
    30Section 5.06.
    
    Additional Duties of Trustee
    
    
    31Section 5.07.
    
    Alternate Credit Facility
    
    
    32
 
 Section 6.01.
    
    Punctual Payment
    
    
    32Section 6.02.
    
    Extension of Payment of Notes
    
    
    32Section 6.03.
    
    Encumbrances
    
    
    33Section 6.04.
    
    Accounting Records and Reports
    
    
    33Section 6.05.
    
    Other Covenants
    
    
    33Section 6.06.
    
    Further Assurances
    
    
    33
 
 Section 7.01.
    
    Events of Default; Acceleration; Waiver of Default
    
    
    33Section 7.02.
    
    Institution of Legal Proceedings by Trustee
    
    
    35Section 7.03.
    
    Application of Account Funds and Other Funds After Default
    
    
    35Section 7.04.
    
    Trustee to Represent Registered Owners
    
    
    36Section 7.05.
    
    Registered Owners Direction of Proceedings
    
    
    37Section 7.06.
    
    Limitation on Registered Owners Right to Sue
    
    
    37Section 7.07.
    
    Absolute Obligation of Borrower
    
    
    37Section 7.08.
    
    Termination of Proceedings
    
    
    38Section 7.09.
    
    Remedies Not Exclusive
    
    
    38Section 7.10.
    
    No Waiver of Default
    
    
    38Section 7.11.
    
    Consent to Defaults
    
    
    38
 
 Section 8.01.
    
    Duties, Immunities and Liabilities of Trustee
    
    
    39Section 8.02.
    
    Merger or Consolidation
    
    
    40
 ii




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PageSection 8.03.
    
    Liability of Trustee
    
    
    41Section 8.04.
    
    Right of Trustee to Rely on Documents
    
    
    42Section 8.05.
    
    Preservation and Inspection of Documents
    
    
    43Section 8.06.
    
    Compensation and Indemnification
    
    
    43Section 8.07.
    
    Notice to Rating Agency
    
    
    44Section 8.08.
    
    Qualifications of Remarketing Agent
    
    
    44Section 8.09.
    
    Remarketing of Notes
    
    
    44Section 8.10.
    
    Creation of Purchase Fund; Purchase of Notes Delivered to Tender Agent
    
    
    46Section 8.11.
    
    Delivery of Notes
    
    
    47Section 8.12.
    
    Delivery of Proceeds of Remarketing
    
    
    48Section 8.13.
    
    No Purchases or Sales After Default
    
    
    48Section 8.14.
    
    Qualifications of Tender Agent
    
    
    48Section 8.15.
    
    Paying Agent
    
    
    49Section 8.16.
    
    Several Capacities
    
    
    49
 
 Section 9.01.
    
    Amendments Permitted
    
    
    49Section 9.02.
    
    Effect of Supplemental Indenture
    
    
    50Section 9.03.
    
    Endorsement of Notes; Preparation of New Notes
    
    
    51Section 9.04.
    
    Amendment of Particular Notes
    
    
    51
 
 Section 10.01.
    
    Discharge of Indenture
    
    
    51Section 10.02.
    
    Discharge of Liability on Notes
    
    
    52Section 10.03.
    
    Deposit of Money or Securities with Trustee
    
    
    52Section 10.04.
    
    Payments After Discharge of Indenture
    
    
    53
 
 Section 11.01.
    
    Successor Is Deemed Included in All References to Predecessor
    
    
    54Section 11.02.
    
    Limitation of Rights to Parties and Registered Owners
    
    
    54Section 11.03.
    
    Waiver of Notice
    
    
    54Section 11.04.
    
    Severability of Invalid Provisions
    
    
    54Section 11.05.
    
    Governing Law
    
    
    54
 iii




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PageSection 11.06.
    
    Notices
    
    
    54Section 11.07.
    
    Evidence of Rights of Registered Owners
    
    
    56Section 11.08.
    
    Disqualified Notes
    
    
    57Section 11.09.
    
    Money Held for Particular Notes
    
    
    57Section 11.10.
    
    Funds and Accounts
    
    
    58Section 11.11.
    
    Execution in Several Counterparts
    
    
    58Section 11.12.
    
    Actions Due on Saturdays, Sundays and Holidays
    
    
    58Section 11.13.
    
    References to Credit Issuer
    
    
    58Section 11.14.
    
    Usury
    
    
    58Section 11.15.
    
    Waiver of Jury Trial
    
    
    59EXHIBIT A
    
    FORM OF NOTEEXHIBIT B
    
    FORM OF PAYMENT REQUEST FORM
 iv




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INDENTURE OF TRUST
 THIS INDENTURE OF TRUST
       ARTICLE I
 DEFINITIONS; CONTENT OF CERTIFICATES AND OPINIONS
 Section 1.01. Definitions




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Accountant
 Account Funds
 Act of Bankruptcy
 Additional Payments
 Alternate Credit Facility
 Alternate Letter of Credit
 Authorized Denomination
 Authorized Representative
 2




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Available Moneys
 Beneficial Owner
 Borrower
 Borrower Notes
 Business Day
 Certificate Statement Request Requisition Order
 Credit Issuer
 Date of Delivery
 3




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Direct Participant
 DTC
 Eligible Account
 Event of Default
 Expiration Date
 Fixed Interest Rate
 Fixed Interest Rate Date
 Fixed Rate Period
 GECC
 Government Obligations
 4




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Indenture
 Information Services
 Interest Account
 Interest Payment Date
 Investment Letter
 Letter of Credit
 Letter of Credit Account
 Letter of Credit Substitution Date
 Liquidity Account
 Mandatory Tender Date
 Moodys
 5




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Net Proceeds
 Non-Tendered Notes
 Note Notes
 Note Fund
 Note Payment Date
 Note Payments
 Note Registrar
 Noteholder
 Organization Documents
 Outstanding
 Participating Underwriter
 Paying Agent
 6




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Payment Request Form
 Person
 Principal Account
 Property
 Purchase Date
 Purchase Fund
 Qualified Investments
 Rate Mode
 Record Date
 Redemption Account
 Registered Owner
 Reimbursement Agreement
 7




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Related Party
 Remarketing Account
 Remarketing Agent
 Remarketing Agreement
 Revenue Fund
 S&P
 Semiannual Date
 Semiannual Period
 Special Record Date
 State
 Supplemental Indenture
 8




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Tender Agent
 Trustee
 Weekly Interest Rate
 Weekly Mode
 Weekly Rate Calculation Date
 Weekly Rate Period
 Section 1.02. Content of Certificates and Opinions
  9




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Section 1.03. Interpretation
     ARTICLE II
 THE NOTES
 Section 2.01. Authorization of Notes
 Section 2.02. Terms of the Notes
   10




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Section 2.03. Interest on Notes
 Weekly Interest Rate
  11




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Fixed Interest Rate .
  Section 2.04. Conversion to Fixed Interest Rate
 12




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Section 2.05. Execution of Notes
 13




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Section 2.06. Transfer of Notes
      14




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15




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Section 2.07. Exchange of Notes
 Section 2.08. Note Registrar
 Section 2.09. Temporary Notes
 Section 2.10. Notes Mutilated, Lost, Destroyed or Stolen
 16




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Section 2.11. Absolute and Unconditional Obligations
 Section 2.12. Book-Entry Only System
   17




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18




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Section 2.13. CUSIP Numbers provided
 19




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ARTICLE III
 ISSUANCE OF NOTES; APPLICATION OF PROCEEDS
 Section 3.01. Issuance of the Notes
 Section 3.02. Establishment and Application of Note Fund
    20




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ARTICLE IV
 REDEMPTION AND PURCHASE OF NOTES
 Section 4.01. Terms of Redemption
  Sinking Fund Redemption
 Optional Redemption During Weekly Mode
 No Optional Redemption After the Fixed Interest Rate Date
 Mandatory Redemption upon Expiration of Letter of Credit
 Mandatory Redemption upon Occurrence of Extraordinary Events
 21




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Mandatory Redemption for Reimbursement Agreement Default
 Mandatory Redemption from Surplus Account
 Section 4.02. Selection of Notes for Redemption
 Section 4.03. Notice of Redemption
  22




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Section 4.04. Partial Redemption of Notes
 Section 4.05. Effect of Redemption
   23




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Section 4.06. Purchase of Notes by Tender Agent
  Section 4.07. Mandatory Tender of Notes
 24




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ARTICLE V
 REVENUES; FUNDS AND ACCOUNTS;
PAYMENT OF PRINCIPAL AND INTEREST
 Section 5.01. Pledge and Assignment; Revenue Fund
   25




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Section 5.02. Note Payments and Allocation
   26




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Section 5.03. Priority of Moneys in Revenue Fund; Letter of Credit Account
    27




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28




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Section 5.04. Letter of Credit.
  29




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Section 5.05. Investment of Moneys
 30




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Section 5.06. Additional Duties of Trustee
 31




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Section 5.07. Alternate Credit Facility
     ARTICLE VI
 PARTICULAR REPRESENTATIONS, WARRANTIES AND COVENANTS
 Section 6.01. Punctual Payment
 Section 6.02. Extension of Payment of Notes
 32




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Section 6.03. Encumbrances
 Section 6.04. Accounting Records and Reports
  Section 6.05. Other Covenants
 Section 6.06. Further Assurances
 ARTICLE VII
 EVENTS OF DEFAULT AND REMEDIES OF REGISTERED OWNERS
 Section 7.01. Events of Default; Acceleration; Waiver of Default
   33




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provided, however
    34




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Section 7.02. Institution of Legal Proceedings by Trustee
 Section 7.03. Application of Account Funds and Other Funds After Default
     35




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Section 7.04. Trustee to Represent Registered Owners
 36




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Section 7.05. Registered Owners Direction of Proceedings
 Section 7.06. Limitation on Registered Owners Right to Sue
  Section 7.07. Absolute Obligation of Borrower
 37




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Section 7.08. Termination of Proceedings
 Section 7.09. Remedies Not Exclusive
 Section 7.10. No Waiver of Default
 Section 7.11. Consent to Defaults
 38




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ARTICLE VIII
 TRUSTEE, THE REMARKETING
AGENT AND TENDER AGENT
 Section 8.01. Duties, Immunities and Liabilities of Trustee
     39




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Section 8.02. Merger or Consolidation
 40




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Section 8.03. Liability of Trustee
       41




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Section 8.04. Right of Trustee to Rely on Documents
   42




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Section 8.05. Preservation and Inspection of Documents
 Section 8.06. Compensation and Indemnification
   43




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Section 8.07. Notice to Rating Agency
 Section 8.08. Qualifications of Remarketing Agent
   Section 8.09. Remarketing of Notes
  44




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45




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Section 8.10. Creation of Purchase Fund; Purchase of Notes Delivered to Tender Agent
         46




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Section 8.11. Delivery of Notes
     47




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Section 8.12. Delivery of Proceeds of Remarketing
 Section 8.13. No Purchases or Sales After Default
 Section 8.14. Qualifications of Tender Agent
  48




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Section 8.15. Paying Agent
 Section 8.16. Several Capacities
 ARTICLE IX
 MODIFICATION OR AMENDMENT OF THIS INDENTURE
 Section 9.01. Amendments Permitted
  49




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Section 9.02. Effect of Supplemental Indenture
 50




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Section 9.03. Endorsement of Notes; Preparation of New Notes
 Section 9.04. Amendment of Particular Notes
 ARTICLE X
 DEFEASANCE
 Section 10.01. Discharge of Indenture
     51




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Section 10.02. Discharge of Liability on Notes
 Section 10.03. Deposit of Money or Securities with Trustee
 52




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Section 10.04. Payments After Discharge of Indenture
 53




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ARTICLE XI
 MISCELLANEOUS
 Section 11.01. Successor Is Deemed Included in All References to Predecessor
 Section 11.02. Limitation of Rights to Parties and Registered Owners
 Section 11.03. Waiver of Notice
 Section 11.04. Severability of Invalid Provisions
 Section 11.05. Governing Law
 Section 11.06. Notices
 54




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If to Borrower:

    LTF Real Estate VRDN I, LLC2092 Corporate PlaceChanhassen, MN 55317Attn: TreasurerWith a copy to:

    Faegre & Benson LLP2200 Wells Fargo Center90 South Seventh StreetMinneapolis, MN 55402Attn: Scott Anderegg, Esq.If to Trustee:

    Manufacturers and Traders Trust CompanyMail Code: PA1-HM22213 Market StreetHarrisburg, PA 17101Attn: Corporate Trust AdministrationIf to Tender Agent:

    Manufacturers and Traders Trust CompanyMail Code: PA1-HM22213 Market StreetHarrisburg, PA 17101Attn: Corporate Trust AdministrationIf to Credit Issuer:

    General Electric Capital Corporation40 Old Ridgebury RoadDanbury, CT 06810Attn: SyndicationsVRDBWith a copy to:

    GE Government Finance, Inc.8400 Normandale Lake Boulevard, Suite 470Minneapolis, MN 55437Attn: Vice PresidentRisk Management
 55




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If to Remarketing Agent:

    Dougherty & Company LLC90 South Seventh StreetSuite 4400Minneapolis, MN 55402Attn: David B. JuranIf to Rating Agency:

    Standard & Poors Ratings Services, a division of The
McGraw-Hill Companies, Inc.55 Water Street, 42nd FloorNew York, NY 10041Attn: LOC SurveillanceE-mail: nyloc@standardandpoors.comIf to DTC:

    Notices required to be given under this Indenture to DTC by facsimile
transmission shall be sent to DTCs Call Notification Department at (212) 855-7246.
Notices to DTC by mail or any other means shall be sent to:The Depository Trust Company55 Water StreetNew York, NY 10004
 Section 11.07. Evidence of Rights of Registered Owners
    56




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Section 11.08. Disqualified Notes
 Section 11.09. Money Held for Particular Notes
    57




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Section 11.10. Funds and Accounts
 Section 11.11. Execution in Several Counterparts
 Section 11.12. Actions Due on Saturdays, Sundays and Holidays
 Section 11.13. References to Credit Issuer
 Section 11.14. Usury
 58




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Section 11.15. Waiver of Jury Trial
 
 59




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Borrower:
    
    LTF REAL ESTATE VRDN I, LLCBy:Print:
    
    Eric J. BussIts:
    
    SecretaryTrustee:
    
    MANUFACTURERS AND TRADERS TRUST
COMPANY, as trusteeBy:Print:Title:




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Exhibit A to Indenture
 FORM OF NOTE
  No.
R-1
    
    $34,235,000




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Maturity Date
    
    Original Issue Date
    
    CUSIPJune 1, 2033
    
    June 13, 2008
    
    50217N AA1
 Registered Owner:
    
    CEDE & CO.
 Principal Sum:
    
    THIRTY-FOUR MILLION TWO HUNDRED THIRTY-FIVE THOUSAND DOLLARS
   Business Day
 A-2




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Fixed Interest Rate
 Fixed Interest Rate Date
 Fixed Rate Period
 Rate Mode
 Semiannual Date
 Semiannual Period
 Weekly Interest Rate
 Weekly Mode
 Weekly Rate Calculation Date
 Weekly Rate Period
   A-3




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A-4




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A-5




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A-6




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A-7




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A-8




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Borrower:
    
    LTF REAL ESTATE VRDN I, LLCBy:Print: Eric J. BussIts: Secretary
  A-9




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CERTIFICATE OF AUTHENTICATION AND REGISTRATION
 
 MANUFACTURERS AND TRADERS TRUSTCOMPANY, as TrusteeByAuthorized Signatory
 A-10




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ASSIGNMENT
 
 Dated:
    
    Notice: The signature on this Assignment must
correspond with the name of the Registered Owner as
it appears upon the face of the within Note in every
particular without alteration or enlargement or any
change whatsoever.Signature guaranteed:(NOTE: Signature must be guaranteed by an Eligible Guarantor 
Institution)
 A-11




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Exhibit B to Indenture
 FORM OF PAYMENT REQUEST FORM
       BORROWER:LTF REAL ESTATE VRDN I, LLCBy:Print: Eric J. BussIts: SecretaryAPPROVED BY CREDIT ISSUER:GENERAL ELECTRIC CAPITAL CORPORATIONBy:Title:Date: