Document:

PREPARED
BY:

      Jack
B. Owen, Jr., PA.

      4500
PGA Blvd., Ste. 304-B

      Palm
Beach Gardens, FL 33418

      Our
File No. S09-909

      

      SECURITY
AGREEMENT

      

      THIS AGREEMENT is made December 11, 2009, by and between FLORIDA GAMING CENTERS, INC., A
FLORIDA CORPORATION, D/B/A MIAMI JAI-ALAI, D/B/A W.J.A. REALTY, FLORIDA GAMING
CORPORATION, INC., a Delaware corporation and CITY NATIONAL BANK OF FLORIDA, a
Florida corporation; f/k/a CITY NATIONAL BANK OF MIAMI, a Florida banking
corporation as Trustee under its Land Trust #5003471, whose address is
3500 NW 37th Avenue, Miami, FL 33142
("collectively referred to Borrower") and NURMI PROPERTIES, LLC, a Delaware
limited liability company, whose address is P. O. Box 247, Tuscumbia, AL 35674
and ROBINETTE INVESTMENTS, LLC, a Florida limited liability company,
whose address is 4500
PGA Blvd., Ste. 304-B, Palm Beach Gardens, FL 33418 ("collectively
referred to as Lender").

      

      BACKGROUND

      

      A.           Borrower
has executed a Note of even date herewith in the original principal sum FIVE HUNDRED THOUSAND and 00/100
Dollars  (U.S. $500,000.00), in favor of Lender (the "Note"),
which is secured by, inter alia, a
Mortgage and Security Agreement (the "Mortgage) from Borrower, of even date
herewith, encumbering the fee simple interest of Borrower in certain real
property situate in MIAMI-DADE
County, Florida, described as:

      

      SEE ATTACHED EXHIBIT “A”

      

      (the
"Property") and certain fixtures and personal property to be owned by Borrower
and used in connection with the construction and operation of the Property or
located off the Property but which provide necessary services to the
Property.

      

      B.           To
further secure payment of the sums due under the Note, Borrower has agreed to
grant to Lender a security interest in certain assets of Borrower located in or
upon the Property or located off the Property but which provide necessary
service to the Property.

      

      TERMS
OF AGREEMENT

      

      NOW, THEREFORE, in consideration of the
promises herein contained and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:

      

      1.           To
secure (a) payment of all sums which may now or hereafter be due under the Note,
and (b) the full and prompt performance of all obligations of Borrower under the
Note and Mortgage, as the Note and Mortgage may hereafter be amended, Borrower
hereby grants to Lender a security interest, which shall constitute a first
lien, in all of the property described on Exhibit "B" attached hereto
(the "Collateral").

      

      2.           If
certificates of title are now, or hereafter become issued or outstanding with
respect to any of the Collateral, Borrower shall cause the interest of Lender to
be properly noted thereon.

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      

      3.           Borrower
further agrees:  that the Collateral will be kept in as good condition
and repair, reasonable wear and tear excepted, and that the expenses of any
repairs and maintenance will be borne solely by Borrower; that the Collateral
will not be used or be permitted to be used illegally; that Borrower will
promptly notify Lender if there is any adverse change in the status of the
Collateral; that Lender may inspect the Collateral at any time upon reasonable
notice; to pay all costs of filing this Agreement and financing and other
statements required to perfect and to continue perfection of Lender's security
interest in the Collateral and all costs required to evidence the priority of
the security interest; not to abandon, conceal, injure, or destroy the
Collateral, nor deface any identifying marks thereon; not to sell, lease,
assign, or encumber the Collateral without Lender's prior written consent, nor
grant any further security interest in the Collateral, nor permit Borrower's
rights therein to be reached by judicial process; to keep the Collateral free of
all liens and encumbrances, except for Lender's security interest hereunder, and
the subordinate security interest of Freedom Financial Corporation and the lien
of taxes not delinquent; and that no injury to or loss or destruction of the
Collateral shall relieve Borrower of its obligation to pay the indebtedness
secured hereby.  Borrower agrees to maintain, at Borrower's sole cost
and expense, insurance against loss of or damage to the Collateral by fire and
such other casualties as are normally included in fire and extended coverage
insurance policies for personal property, in an amount equal to the full
replacement value thereof.

      

      4.           Each
of the following shall be an Event of Default hereunder:

      

      (a)           If
Borrower is in default under the Note or the Mortgage or any of the documents or
instruments executed and delivered in connection therewith (all such documents
hereinafter collectively called the "Loan Documents");

      

      (b)           If
Borrower shall fail to observe or perform any of its obligations under the Note,
the Mortgage or the other Loan Documents;

      

      (c)           If
Borrower shall default in the performance of any term or provision of this
Agreement; or

      

      (d)           If
Borrower, in other than the ordinary course of business, shall sell or transfer,
or attempt to sell or transfer, the Collateral or any interest therein, except
in connection with the replacement of such items in the ordinary course of
business, without the prior written consent of Lender.

      

      5.           Upon
the occurrence of any Event of Default, Lender may (a) declare all sums owing
under the Note to be immediately due and payable, without presentation, demand,
or further action of any kind; (b) exercise all the rights of a secured party
under the Uniform Commercial Code of the State of Florida and/or any other
applicable law with respect to the Collateral, including (without limitation) to
require Borrower to assemble all or any of the reasonably mutually convenient,
to take immediate possession of the Collateral wherever found, with or without
legal process, and to sell or otherwise dispose of the Collateral.  If
the proceeds of any sale or other lawful disposition by Lender of the Collateral
subsequent to its retaking exceed the aggregate amount of the outstanding
balance of all monies owed under the Note, the Mortgage and the other Loan
Documents and the expenses of Lender in connection with the retaking and
disposition of the Collateral, then Borrower shall be entitled to such
surplus.  If all or any of the Collateral is disposed of by private
sale pursuant to any agreement whereby all or part of the sale price is payable
in installments, then the cash price (exclusive of credit service charges,
interest and any insurance premiums) shall be credited against the indebtedness
secured hereby.  Neither failure nor delay on the part of Lender to
exercise any of its rights hereunder, in whole or in part, shall cause a waiver
thereof in that or any other instance.  The provisions of this
Agreement are cumulative and in addition to any other or additional rights
Lender may have at law or in equity or under the terms of the Note, Mortgage, or
any of the other Loan Documents.

      

      6.           Borrower
shall execute deliver, file, and re-file any financing statements, continuation
statements, or other security agreements Lender may require from time to time to
confirm the lien of this Agreement with respect to the
Collateral.  Without limiting the foregoing, Borrower hereby
irrevocably appoints Lender attorney-in-fact for Borrower to execute, deliver,
and file such instruments for and on behalf of Borrower.

      

      7.           The
proceeds of any Collateral received by the Lender at any time before or after
default, whether from the sale of Collateral or otherwise, shall be applied to
the payment of the Note and Mortgage in such order as the Lender may
elect.  The Borrower, to the extent that it has any right, title, or
interest in any of the Collateral, waives and releases any right to require the
Lender to collect any of the sums of money due under the Note or Mortgage from
any other of the Collateral under any theory of marshaling of assets, or
otherwise, and specifically authorizes the Lender to apply any interest against
any of the obligations in any manner that the Lender may
determine.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      8.           This
Agreement shall be binding upon and shall inure to the benefit of the parties
hereto, their respective successors and assigns.

      

      9.           This
Agreement shall be governed by and construed in accordance with the laws of the
State of Florida.  Wherever possible, each provision of this Agreement
shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement shall be prohibited by or
invalid or unenforceable under applicable law, such provision shall be
ineffective to the extent of such prohibition or invalidity without invalidating
the remainder of such provision or the remaining provisions of this
Agreement.

      

      10.         In
the event Lender retains an attorney to enforce any of its rights arising
hereunder, Borrower will pay all of the reasonable attorney's fees and costs
incurred by Lender in connection with the enforcement of its rights arising
hereunder whether or not suit is brought.

      

      11.         All
communications required hereunder shall be in writing and shall be sent by
either hand delivery, special delivery service (e.g. Federal Express) or
certified mail, postage prepaid, return receipt requested.  Notice
shall be conclusively presumed to have been given three (3) business days after
notice is sent by certified mail, the next business day after notice is sent by
special delivery service, or upon receipt if sent by hand
delivery.  For purposes hereof, the address of the parties hereto
(until notice of a change thereof is served as provided in this section) shall
be as follows:

      

      
        
          
            	
                    LENDER:

                  	
                    NURMI
      PROPERTIES, LLC,

                  
	 
      	
                    P.
      O. Box 247

                  
	 
      	
                    Tuscumbia,
      AL 35674

                  
	 
      	 
      
	 
      	
                    ROBINETTE
      INVESTMENTS, LLC

                  
	 
      	
                    4500
      PGA Blvd., Ste. 304-B

                  
	 
      	
                    Palm
      Beach Gardens, FL 33418

                  
	 
      	 
      
	
                    BORROWER:

                  	
                    FLORIDA
      GAMING CENTERS, INC. D/B/A MIAMI JAI-ALAI, D/B/A W.J.A.
    REALTY

                  
	 
      	
                    FLORIDA
      GAMING CORPORATION, INC.

                  
	 
      	
                    CITY
      NATIONAL BANK OF FLORIDA; f/k/a CITY NATIONAL BANK OF MIAMI, AS TRUSTEE
      UNDER ITS LAND TRUST #5003471

                    3500
      NW 37th
      Avenue

                    Miami,
      FL 33142

                  

          

        

      

      

      12.         Lender
and Borrower hereby waive any right, which they may have to have any claims or
controversies which may arise under this Agreement, or with respect to all or
any of the Collateral, tried by a jury.

      

      IN WITNESS WHEREOF, the parties have
caused this Agreement to be executed by their duly authorized representatives,
under seal, the day and year first above written.

       

      
        
          
            
              
                
                  
                    
                      
                        	
                                BORROWER:

                              	 
      	 
      	
                                LENDER:

                              
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                FLORIDA
      GAMING CENTERS, INC

                              	 
      	 
      	
                                NURMI
      PROPERTIES, LLC, a Delaware

                              
	 
      	
                                a
      Florida corporation d/b/a MIAM

                              	 
      	 
      	
                                limited
      liability company

                              
	 
      	
                                JAI-ALAI
      d/b/a W.J.A. REALTY

                              	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                                By:

                              	 
      	 
      	
                                By:

                              	 
      
	 
      	
                                W.
      BENNETT COLLETT, SR. CEO

                              	 
      	 
      	
                                Name: 

                              	 
      
	 
      	 
      	 
      	 
      	
                                Title:

                              	 
      

                      

                    

                  

                

              

            

          

        

      

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      
        
          
            
              
                
                  
                    
                      	 
      	
                              Borrower:

                            	 
      	
                              Lender:

                            
	 
      	 
      	 
      	 
      	 
      
	 
      	
                              FLORIDA
      GAMING CORPORATION,

                            	 
      	 
      	
                              ROBINETTE INVESTMENTS, LLC, a

                            
	 
      	
                              a
      Delaware corporation

                            	 
      	 
      	
                              Florida
      limited liability company

                            
	 
      	 
      	 
      	 
      	 
      
	
                              By:

                            	 
      	 
      	
                              By:

                            	 
      
	 
      	
                              W.
      BENNETT COLLETT, SR., CEO

                            	 
      	 
      	
                              ANNE
      CRAIG, Managing Member

                            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                              Borrower:

                            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                              CITY
      NATIONAL BANK OF FLORIDA, a Florida

                            	 
      	 
      	 
      
	 
      	
                              banking corporation as Trustee under its Land Trust

                            	 
      	 
      	 
      
	 
      	
                              #5003471,
      dated January 1, 1979

                            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                              By:

                            	 
      	 
      	 
      	 
      
	 
      	
                              Name: 

                            	 
      	 
      	 
      	 
      
	 
      	
                              Title:

                            	 
      	 
      	 
      	 
      

                    

                  

                

              

            

          

        

      

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      

      EXHIBIT
"B"

      

      This
Security Agreement covers all of the following property of the Borrower, whether
now owned or existing, or hereafter acquired or arising, and located in, on, or
intended to be located in or on the property described on Exhibit
“A” attached hereto (the “Land”) or any improvements now or hereafter
located or contemplated to be located thereon (the Land and such improvements
are collectively called the “Property”) or resulting or created from or in
connection with the ownership, improvement, leasing, development, management, or
operation of the Property: (i) all fixtures,
equipment, general intangibles, goods, inventory, merchandise, raw materials,
parts, supplies, work-in process and finished products intended for sale, and
personal property of every kind and nature whatsoever (whether tangible or
intangible), now or hereafter owned by Debtors and located in, on, about or
attached to the Property or used or intended to be used with or in connection
with the construction, use, operation, maintenance or enjoyment of the Property
or derived or arising from or relating or appertaining to the Property or the
use, operation, maintenance or enjoyment thereof, and all extensions, additions,
improvements, betterments, renewals, replacements or proceeds (including, but
not limited to, insurance and condemnation proceeds) of the foregoing,
including, but not limited to, all gas and electric fixtures and apparatus,
plumbing fixtures and apparatus, heating, ventilating and air conditioning
fixtures and apparatus, carpeting and other floor coverings, furniture,
furnishings, machinery, building materials and supplies, sprinklers, fire
extinguishers and other safety and security equipment and apparatus, elevators,
engines, motors, ranges and other cooking apparatus, washers, dryers, water
heaters, refrigerators, appliances, window screens, awnings, storm sashes,
mirrors, mantels, furniture, furnishings, vehicles, pool equipment, books,
records, accounts, tradenames, trademarks, goodwill, all building and other
permits, surveys, architectural and engineering plans and specifications,
certifications, studies and work product prepared and hereafter prepared
relating to the design or construction of any Improvements or proposed
improvements, governmental approvals, certificates of occupancy
and  completion, licenses, authorizations, insurance policies and the
proceeds thereof, agreements with any utility companies, all deposits associated
with the foregoing, any other consents and approvals which Debtors may now or
hereafter own with respect to or in connection with the Property, all warranties
and guaranties covering any appliances, equipment and fixtures now or hereafter
located on or placed upon the Property, including, without limitation, air
conditioning, heating and other appliances and equipment; all existing and
future contracts, leases, rental agreements, franchise agreements, management
contracts, construction contracts, and other contracts, licenses and permits now
or hereafter affecting the Property or any part thereof; all existing and future
contracts in connection with the use, management, sale, leasing and maintenance
of the Property or any portion thereof; all accounts, accounts receivable, other
receivables, contract rights, chattel paper, instruments and documents; any
other obligations or indebtedness owed to Debtors in connection with the
Property from whatever source arising; all rights of Debtors to receive any
performance or any payments in money or kind; all guaranties of the foregoing
and security thereof; all right, title and interest of Debtors in and with
respect to the goods, services or other property that give rise to or that
secure any of the foregoing, and all the right, title and interest of the
Debtors in any such property subject to or covered by a security agreement,
conditional sales contract, chattel mortgage or similar lien or claim together
with the benefit of any deposits or payments now or hereafter made by Debtors or
on their behalf (the “Fixtures and Personal Property”); and (ii) any and all
other, further or additional title, estates, interests or rights which may at
any time be acquired by the Debtors in or to the Land, Improvements, and
Fixtures and Personal Property; all leases, rental agreements and other
occupancy agreements pertaining to the Land or the Improvements or any part
thereof; all easements, rights-of-way, gores of land, vaults, streets, ways
alleys, passages, sewer rights, waters, water courses, water rights and powers;
all estates, rights, titles, interests, privileges, liberties, tenements,
hereditaments and appurtenances whatsoever, in any way belonging, relating to or
appertaining to the Property, or any part thereof, or which hereafter shall in
any way belong, relate or be appurtenant thereto, whether now owned or hereafter
acquired by the Debtors; and the reversion and reversions, remainder and
remainders, and rents, issues, profits, revenues thereof (including but not
limited to, all condemnation payments, insurance proceeds, payments under leases
and tenancies, sale proceeds, purchase deposits, tenant security deposits and
escrow funds), and all the estate, right, title, interest, property, possession,
claim and demand whatsoever at law, as well as in equity, of the Debtors of, in
and to the same; and (iii) All general
intangibles, including without limitation, corporate or other business records
and books, computer records whether on tape disc or otherwise stored,
blueprints, surveys, architectural or engineering drawings, plans and
specifications, goodwill, telephone numbers, licenses, governmental approvals,
franchises, permits, payment and performance bonds, and agreements with utility
companies, together with any deposits, prepaid fees and charges paid thereon;
and (iv) All
other personal property, including without limitation, management contracts,
construction contracts, architectural contracts, service contracts, engineering
contracts, advertising contracts, contracts for purchase and sale of any of the
Property, purchase orders, equipment leases, monies in escrow accounts, prepaid
expenses, deposits and down payments with respect to additional real property
for use or development of the Property, end-loan commitments and abstracts of
title; and (v)
All of the right, title and interest of Debtors in and to all agreements
of sale, whether now existing or hereafter executed respecting the sale of
condominium units to be located on the Land; all deposits, escrow deposits,
reservation deposits and the like, now existing or hereafter made pursuant
thereto; the escrow account into which the foregoing are to be deposited; all
sums on deposit in such escrow account; and the proceeds, income, profits,
monies and other rights and benefits to be derived in, from and under the
contracts and the disposition of the units and other properties and interests
described in the contracts; and (vi) All proceeds,
products, replacements, additions, betterments, extensions, improvements,
substitutions, renewals and accessions of any and all of the
foregoing.

      

      To the
extent permitted by applicable law and with or subject to any necessary consents
from governmental authorities all right, title and interest in all
permits, licenses, rights, revenues, profits, royalties and benefits of Debtor
in connection with gaming licenses received and held by Borrower under Chapters
550, 551 and/or 849, Florida Statues, from the Florida Department of Business
and Professional Regulation, Division of Pari-Mutuel Regulation, or other
governmental entity for pari-mutuel wagering, Jai Alai poker operations and slot
machines (the “Gaming License”) whether now existing or from time to time
hereinafter issued or renewed, related to the property described in Exhibit
A.

      
        
           

        

        
          5RETURN
TO:

    PREPARED BY:

    Jack
B. Owen, Jr., P.A.

    4500
PGA Blvd., Ste. 304-B

    Palm
Beach Gardens, FL 33418

    File
#S09-909

    

    ASSIGNMENT
OF RENTS AND LEASES

    

    THIS ASSIGNMENT, made December 11, 2009, by CITY NATIONAL BANK OF FLORIDA, a
Florida corporation; f/k/a CITY NATIONAL BANK OF MIAMI, a Florida banking
corporation as Trustee under its Land Trust #5003471 dated January 1, 1979 and
FLORIDA GAMING CENTERS, INC., a Florida corporation, whose address is
3500 NW 37th Avenue,
Miami, FL 33142 (herein collectively referred to as ”Assignor"), to NURMI PROPERTIES, LLC, a Delaware
limited liability company, whose address is P. O. Box 247, Tuscumbia, AL 35674,
and ROBINETTE INVESTMENTS, LLC, a Florida limited liability company,
whose address is 4500
PGA Blvd., Ste. 304-B, Palm Beach Gardens, FL 33418, (collectively
referred to as "Assignee").

    

    BACKGROUND

    

    A.           Assignor
is the owner of a fee simple interest in certain real property located in MIAMI-DADE County, Florida,
and described as follows (the "Property"):

    

    SEE
ATTACHED EXHIBIT “A”

    

    B.           
This Assignment is made as additional security for the payment of a certain note
of even date herewith made by Assignor to Assignee in the original principal sum
of FIVE HUNDRED THOUSAND and
00/100 Dollars  (U.S. $500,000.00) (the "Note") and the
performance by Assignor of its obligations under a certain Mortgage and Security
Agreement of even date herewith from Assignor to Assignee, given to secure
payment of the Note and covering the Property, and various other security
documents, (all such security documents along with the Mortgage and Security
Agreement are hereinafter collectively called the "Mortgage").

    

    TERMS
OF AGREEMENT

    

    NOW, THEREFORE, in order to further
secure the Note and in consideration of One Dollar ($1.00) paid by Assignee to
Assignor, the receipt and sufficiency of which is hereby acknowledged, Assignor
hereby conveys, transfers and assigns unto Assignee, its successors and assigns,
all the rights, interest and privileges, (a) which Assignor as lessor has and
may have in the leases (oral or written) or any use or occupancy agreements now
existing or hereafter

    

    made and
affecting the Property or any part thereof, as such leases or other agreements
may have been, or may from time to time be hereafter, modified, extended and
renewed, with all deposits, rents, income and profits due and becoming due
therefrom, and (b) which Assignor has and may have by virtue of any guaranty or
surety agreement with respect to the tenants' obligations under any of such or
may from time to time be hereafter modified and extended.  Assignor
will, on request of Assignee, execute assignments of any future leases affecting
any part of the Property and assignments of any guaranties or surety agreements
made in connection therewith.

    

    
      	
              1.

            	
              This
      assignment shall secure the Note and the Mortgage as they may, from time
      to time be hereafter modified, extended and renewed, and shall be security
      for all increases, extensions, amendments or modifications of the Note and
      mortgage, and all additional loans made hereafter, if any, by Assignee to
      Assignor or its successors and assigns and secured by the
      Property.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              2.

            	
              The
      acceptance of this assignment and the collection of rents or the payments
      under the leases or any sums under the guaranties or surety agreements
      hereby assigned shall not constitute a waiver of any rights of Assignee
      under the terms of the Note and Mortgage.  It is expressly
      understood and agreed by the parties hereto that before a default or an
      event of default occurs under the terms of such Note and Mortgage,
      Assignor shall have the right to collect such rents, income and profits
      from the aforementioned leases, guaranties and surety agreements and to
      retain, use and enjoy the same; provided, however, that even before a
      default or an event of default occurs, no rents more than two months in
      advance shall be collected or accepted without the prior written consent
      of Assignee.

            

    

    

    
      	
              3.

            	
              Anything
      herein to the contrary notwithstanding, Assignor hereby assigns to
      Assignee any award made hereafter to it in any court procedure involving
      any of the lessees in any bankruptcy, insolvency, or reorganization
      proceedings in any state or Federal court, and any and all payments made
      by lessees in lieu of rent.  Assignor hereby appoints Assignee
      as its irrevocable attorney-in-fact to appear in any action and/or to
      collect any such award or payment.

            

    

    

    
      	
              4.

            	
              Assignor,
      in the event of a default or any event of default as set forth in the Note
      or Mortgage hereby authorizes Assignee, at its option, to enter and take
      possession of the Property and to manage and operate the same, to collect
      all or any rents accruing therefrom and from such leases, to collect all
      or any sums due or becoming due under such guaranties and surety
      agreements, to let or re-let the Property or any part thereof, to cancel
      and modify leases, guaranties and surety agreements, evict tenants, bring
      or defend any suits in connection with the possession of the Property in
      its own name or Assignor's name, make repairs as Assignee deems
      appropriate, and perform such other acts in connection with the management
      and operation of the Property as Assignee, in its discretion, may deem
      proper.

            

    

    

    
      	
              5.

            	
              The
      receipt by Assignee of any rents, issues or profits pursuant to this
      instrument after the institution of foreclosure or sale proceedings under
      the Mortgage shall not cure such default or affect such proceedings or any
      sale pursuant thereto.

            

    

    

    
      	
              6.

            	
              Assignee
      shall not be obligated to perform or discharge any obligation or duty to
      be performed or discharged by Assignor under any of such leases or other
      agreements, and Assignor hereby agrees to indemnify Assignee for, and to
      save it harmless from, any and all liability arising from any of such
      leases, or other agreement, guaranties, surety agreements or from this
      assignment, and this assignment shall not place responsibility for the
      control, care, management or repair of the Property upon Assignee, or make
      Assignee responsible or liable for any negligence in the management,
      operation, upkeep, repair or control of the Property resulting in loss or
      injury or death to any tenant, licensee, employee or other
      person.

            

    

    

    
      	
              7.

            	
              Assignor
      covenants and represents that Assignor has title to, and full right to
      assign such leases, or other agreements, guaranties, surety agreements and
      the rents, income and profits due or to become due thereunder; that the
      terms of such leases, or other agreements, guaranties and surety
      agreements have not been changed from the terms in the copies of such
      leases, guaranties and surety agreements submitted
  to

            

    

    

    
      	
               
      

            	
              Assignee
      for approval; that no other assignment of any interest therein has been
      made, except to Freedom Financial Corporation or as otherwise set forth
      herein; that there are no existing defaults under the provisions thereof,
      and that Assignor will not hereafter cancel, surrender or terminate any of
      such leases, guaranties or surety agreements, exercise any option which
      might lead to such termination, or materially change, alter or modify
      them, or consent to the release of any party liable thereunder or to the
      assignment of the lessees' interests under such leases, other agreements
      or guaranties or surety agreements without the prior written consent of
      Assignee.

            

    

    

    
      	
              8.

            	
              Assignor
      hereby authorizes Assignee to give notice in writing of this assignment at
      any time to any tenant under any of such leases and to any guarantor of
      such leases.

            

    

    

    
      	
              9.

            	
              Violation
      of any of the covenants, representations and provisions contained herein
      by Assignor shall be deemed a default under the terms of the Note and
      Mortgage.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
              10.

            	
              Default
      by Assignor under any of the terms of the leases assigned herein shall be
      deemed a default hereunder and under the terms of the Note and
      Mortgage.  Any expenditures made by Assignee in curing such a
      default on Assignor's behalf, with interest thereon at the rate payable
      upon default under the Note, shall become part of the debt secured by this
      assignment, provided, however, that Assignee shall have no obligation to
      make any expenditures or cure any
defaults.

            

    

    

    
      	
              11.

            	
              The
      full performance of the Mortgage and the duly recorded satisfaction of the
      Mortgage or release of the Mortgage from the Property described therein
      shall render this assignment automatically void with respect to the
      Property or portion thereof described in any such satisfaction or
      release.

            

    

    

    
      	
              12.

            	
              The
      net proceeds collected by Assignee, after reimbursement of expenses
      incurred by Assignee, under the terms of this instrument shall be applied
      in reduction of the entire indebtedness from time to time outstanding and
      secured by the Mortgage.

            

    

    

    
      	
              13.

            	
              Notwithstanding
      any provision herein to the contrary, this Assignment of Rents and Leases
      is intended to be an absolute assignment from Assignor to Assignee and not
      merely the granting of a security interest.  The rents and
      leases are hereby assigned absolutely by Assignor to Assignee;
      nevertheless, Assignor shall have the right to continue to collect and
      retain the rents for its own account until the occurrence of a default or
      an event of default under the Note or Mortgage, or
  both.

            

    

    

    
      	
              14.

            	
              This
      assignment applies to and binds the parties hereto and their respective
      heirs, administrators, executors, successors and assigns, as well as any
      subsequent owner of the Property and any Assignee of the Mortgage referred
      to herein.

            

    

    

    
      	
              15.

            	
              In
      the event Assignee retains an attorney to enforce any of its rights
      hereunder, Assignor will pay all of the reasonable attorneys' fees and
      costs incurred by Assignee in connection with the enforcement of its
      rights hereunder whether or not suit is
brought.

            

    

    

    
      	
              16.

            	
              This
      Assignment of Rents and Leases shall be governed by and construed
      according to the laws of the State of
Florida.

            

    

    

    
      	
              17.

            	
              Assignor
      and Assignee hereby waive any and all right to a trial by jury which
      either or both of them may have with respect to any claims arising out of
      this Assignment.

            

    

    

    IN WITNESS WHEREOF, Assignor has duly
executed this assignment the day and year first above written.

    

    
      	
              Signed,
      Sealed, and Delivered

            
	
              in
      the presence of:

            

    

    

    
      	 
      	
              CITY
      NATIONAL BANK OF FLORIDA, a

            
	 
      	
              Florida
      banking corporation as Trustee

            
	 
      	
              under
      its Land Trust #5003471, dated

            
	 
      	
              January
      1, 1979

            

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                      

                                  	 	
                                    By:

                                  	
                                     

                                  	 (Seal) 
	
                                    First
      Witness Signature

                                  	 	 
      	Name:
      	
                                     

                                  	 
	 
      	 	 
      	Title: 	
                                     

                                  	 
	
                                      

                                  	 	 
      	 
      	 
	
                                    (Printed
      Name)

                                  	 	 
      	 
      	 
	 
      	 	 
      	 
      	 
	
                                      

                                  	 	 
      	
                                    FLORIDA
      GAMING CENTERS, INC., a Florida

                                  	 
	
                                    Second
      Witness Signature

                                  	 	 
      	
                                    corporation

                                  	 
	 
      	 	 
      	 
      	 
	
                                      

                                  	 	
                                    By:

                                  	
                                      

                                  	  
	
                                    (Printed
      Name)

                                  	 	 
      	
                                    W.
      BENNETT COLLETT, CEO

                                  	 

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    *          *          *          *          *

    

    
      
        
          
            
              	
                      STATE
      OF

                    	 
      	
                      §

                    
	 
      	
                      §

                    
	
                      COUNTY
      OF

                    	 
      	
                      §

                    

            

          

        

      

    

    

    The foregoing instrument was
acknowledged before me this ____ day of ____________ 2009, by _________________________, as
______________________ of CITY NATIONAL BANK OF FLORIDA, a
Florida banking corporation as Trustee under its Land Trust #5003471, dated
January 1, 1979, who is personally known to me or who produced
_______________________ as identification and who did not take an
oath.

    

    WITNESS MY HAND AND OFFICIAL SEAL OF
OFFICE.

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	 
      	 
      
	
                                    Notary
      Public

                                  	 
      
	
                                    Printed
      Name:

                                  	 
      	
                                    (SEAL)

                                  
	
                                    Commission
      Expires:

                                  	 
      	 
      

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

     

    *          *          *          *          *

    

    
      
        
          
            
              
                
                  
                    	
                            STATE
      OF

                          	 
      	
                            §

                          
	 
      	
                            §

                          
	
                            COUNTY
      OF

                          	 
      	
                            §

                          

                  

                

              

            

          

        

      

    

    

    The foregoing instrument was
acknowledged before me this ____ day of ____________ 2009, by W. BENNETT COLLETT, as CEO of
FLORIDA GAMING CENTERS,
INC., a Florida corporation, who is personally known to me or who
produced _______________________ as identification and who did not take an
oath.

    

    WITNESS MY HAND AND OFFICIAL SEAL OF
OFFICE.

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	 
      	 
      
	
                                      Notary
      Public

                                    	 
      
	
                                      Printed
      Name:

                                    	 
      	
                                      (SEAL)

                                    
	
                                      Commission
      Expires:

                                    	 
      	 
      

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00166-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00166-of-00352.parquet"}]]