Document:

ASSIGNMENT OF LEASES AND RENTS

     This  ASSIGNMENT OF LEASES AND RENTS (this  "Assignment")  is made this 2nd
day of July, 2007.

     165-25 147th Avenue,  LLC, a New York limited  liability  company having an
address at 444 Merrick Road, Suite 370, Lynbrook, New York 11563, 49-19 Rockaway
Beach Boulevard,  LLC, a New York limited liability company having an address at
444 Merrick Road, Suite 370, Lynbrook, New York 11563, 85-01 34th Avenue, LLC, a
New York limited  liability company having an address at 444 Merrick Road, Suite
370, Lynbrook, New York 11563, and 114-15 Guy Brewer Boulevard,  LLC, a New York
limited  liability  company  having an address at 444 Merrick  Road,  Suite 370,
Lynbrook, New York 11563 (individually and collectively,  "Assignor"),  for good
and valuable consideration and to secure the repayment of an indebtedness in the
maximum   aggregate   principal   sum  of  ONE   MILLION   AND  NO/100   DOLLARS
($1,000,000.00),   do  hereby  absolutely,  presently  and  irrevocably  assign,
transfer and set over unto ING USA Annuity and Life Insurance Company,  ING Life
Insurance and Annuity  Company,  ReliaStar Life  Insurance  Company and Security
Life of Denver Insurance Company  (individually and collectively,  and including
any other Persons that may from time to time become Lenders under and as defined
in the Loan Agreement (as defined below), the "Assignee") the following:

          A. All of the right,  title and  interest  of Assignor in and to those
     certain  leases  and  subleases  affecting  all or a  portion  of the  real
     properties more particularly  described in Schedules A-1 through A-4 hereto
     (each a "Property"  and  collectively,  the  "Property"),  which leases and
     subleases  are  listed  in  Schedules  B-1  through  B-4  hereto  (the "NYC
     Leases"),  and all other and future  leases and  subleases of the Property,
     and all modifications, renewals, and extensions of the leases and subleases
     listed in  Schedules  B-1 through B-4 and of other and future  lease(s) and
     subleases,  and guarantees,  if any, of the lessee's obligations under said
     leases and  subleases  listed in Schedules  B-1 through B-4 and under other
     and future  leases and  subleases.  Each of said leases and  subleases  and
     other and future leases and subleases and all  modifications,  renewals and
     extensions  and  guarantees,  if  any,  relating  thereto  are  hereinafter
     collectively referred to as the "Leases".

          B. All rents,  issues,  income,  proceeds and profits arising from the
     Leases and from the use and occupation of the Property,  including, without
     limitation,  all fixed and additional rents, cancellation payments, and all
     sums due and payments  made under any guarantee of any of the Leases or any
     obligations thereunder (collectively "Rents").

          C. All  rights,  powers,  privileges,  options  and other  benefits of
     Assignor under the Leases, including, without limitation, the immediate and
     continuing  right to make claim for,  receive,  collect and receipt for all
     Rents,  including  the right to make such claim in a  proceeding  under the
     Bankruptcy Code (hereinbelow  defined),  and the right to apply the same to
     the payment of the Obligations (as defined below).

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     THIS ASSIGNMENT is an absolute,  present and irrevocable  assignment and is
made for the purpose of securing:

          A. The payment of all sums and indebtedness now or hereafter due under
     those  certain  Mortgage  Notes  dated of even date  herewith  executed  by
     Assignor  and  those  certain  other  borrowers   identified  therein  (the
     "Borrowers") in favor of Assignee, together with any amendments, extensions
     or renewals  thereof (the Mortgage  Notes,  together  with all  amendments,
     extensions or renewals thereof is hereinafter  referred to as the "Mortgage
     Notes") in the maximum  aggregate  principal  sum of One Million and 00/100
     Dollars  ($1,000,000.00),  which  Mortgage  Notes  are  also  secured  by a
     Mortgage and Security  Agreement  dated of even date herewith from Assignor
     in favor of Assignee  (the Mortgage and Security  Agreement,  together with
     all amendments,  extensions or renewals  thereof is hereinafter  called the
     "Mortgage")  encumbering  the Property and intended to be duly  recorded in
     Queens County, New York.

          B.  The  performance  and  discharge  of each  and  every  obligation,
     covenant and  agreement  of Assignor  under this  Assignment,  the Mortgage
     Notes, and the Mortgage (collectively the "Loan Documents").

          C.  The  payment  of the  principal  sum  referred  to  above  and all
     interest,  Make-Whole Amounts and other fees, costs, expenses,  indemnities
     and other  obligations owed by Assignor or any of the other Borrowers under
     the Loan Documents (hereinafter, the "Mortgage Obligations").

     THIS ASSIGNMENT is made on the following covenants, terms and conditions:

1. ASSIGNOR'S REPRESENTATIONS, COVENANTS AND WARRANTIES

     1.1  Representations,  Covenants and Warranties as to Leases. Each Assignor
hereby represents, covenants and warrants to each Assignee as follows:

     (a)  Assignor has not executed any prior assignment of or granted any prior
          assignment  of the Leases and Rents,  nor has it performed  any act or
          executed  any  other  instrument  that  might  prevent  Assignor  from
          fulfilling any of the terms and conditions of this  Assignment or that
          might  prevent  Assignee  from  operating  under  any of the terms and
          conditions  of this  Assignment  or that would limit  Assignee in such
          operation;

     (b)  Assignor has not executed or granted any  modification  whatsoever  of
          any of the Leases,  except as indicated in Schedules  B-1 through B-4;
          the Leases are in full force and effect; and, to Assignor's  knowledge
          and belief,  there are no defaults now existing  under the Leases,  or
          any  conditions  that,  after  notice,  passage of time, or both would
          constitute  defaults;  Assignor  has no  knowledge  of any  notice  of
          termination or "landlord" default issued by any lessee with respect to
          any Lease  except as  alleged in certain  estoppel  certificates  from
          tenant  under the NYC Leases,  copies of which  Assignee  acknowledges
          receipt;  and Assignor has provided to Assignee copies of all "tenant"

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          default  notices  issued by or on behalf of  Assignor  in  respect  of
          uncured tenant defaults;

     (c)  Assignor will observe and perform all the obligations imposed upon the
          landlord  under  any  Leases  and  will  not do or  permit  to be done
          anything to impair any of the Leases;

     (d)  Assignor  shall use good faith efforts to enforce the  obligations  of
          the tenants under the Leases;

     (e)  Assignor shall not take any action that would cause any Lease to cease
          to be in full force and effect;

     (f)  Assignor shall  promptly  furnish to Assignee any notice of default or
          termination   received  by  Assignor   from  any  tenant,   and  shall
          simultaneously  provide  Assignee with a copy of any notice of default
          or termination provided by Assignor to any tenant;

     (g)  Assignor  shall not waive any material  default  under or any material
          breach of any Lease;

     (h)  Assignor  shall not collect any of the Rents arising or accruing under
          the Leases or from the  Property  in advance of the time when the same
          shall become due under the Leases;

     (i)  Except with the prior written consent of Assignee,  Assignor shall not
          cancel,  surrender,  sublet,  assign,  transfer,  pledge,  mortgage or
          subordinate  any  Lease or  consent  to any  cancellation,  surrender,
          termination, transfer, pledge, mortgage, subordination,  subletting or
          assignment  of any Lease,  except for that certain  sublease  from the
          City of New York ("NYC") to Metropolitan Transit Authority and MTA Bus
          Company dated November 29, 2005 (the "MTA Sublease");

     (j)  Except with the prior written consent of Assignee,  Assignor shall not
          alter or modify any  material  term of any Lease,  give any consent or
          exercise any option  required or permitted by any such term,  accept a
          surrender thereof, or consent to any assignment of or subletting under
          the Leases (other than the MTA Sublease), whether or not in accordance
          with their terms.  Without  limiting the  generality of the foregoing,
          prior to the  occurrence  of an Event of Default (as  defined  below),
          Assignor may make  non-material  modifications  and  amendments to the
          Leases  that are  entered  into in the  ordinary  course of  business,
          consistent  with  prudent  property  management  practices  and do not
          affect  adversely  the  economic  terms of such Leases  ("Non-Material
          Amendments"),  provided  that  Assignor  shall  deliver a copy of each
          Non-Material  Amendment  to  --------  Assignee  not  later  than five
          Business Days following the effective  thereof.  Following an Event of
          Default,  Non-Material  Amendments  shall  require  the prior  written
          consent of Assignee;

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     (k)  The rent rolls  delivered to Assignee on even date herewith (the "Rent
          Roll") are true, complete and correct in all material respects;

     (l)  The Leases  (including  amendments)  are in writing,  and there are no
          oral agreements with respect thereto;

     (m)  The copies of the Leases delivered to Assignee are true,  complete and
          correct;

     (n)  Assignor has not assigned or pledged any of the Leases or Rents or any
          interests  therein except to Assignee.  Assignor shall not execute any
          other assignment or encumbrance of the Leases and Rents;

     (o)  No tenant or other party has an option to purchase  all or any portion
          of the Property;

     (p)  No tenant has the right to terminate  its Lease prior to expiration of
          the stated term of such Lease, except as specifically  provided in the
          NYC Leases; and

     (q)  No tenant has prepaid more than one month's Rent in advance.

          With  respect to  subsection  (h) and (j) above,  reference is made to
          Section  291-f of the New York Real  Property  Law.  If  requested  by
          Assignee to do so,  Assignor shall promptly give written notice to all
          tenants of the text or  subsections  (h) and (j) hereof in  accordance
          with Section 291-f.  Assignor  further agrees that recordation of this
          Assignment  constitutes  notice to the tenants to the extent  provided
          for in Section 291-f.

2. ABSOLUTE ASSIGNMENT OF LEASES

     Assignor and  Assignee  intend that this  Assignment  constitute a present,
irrevocable  and  absolute  assignment  of the  Leases  and  Rents,  and  not an
assignment for additional  security only.  Assignor represents that Assignor has
provided  written  notice of the  existence of this  Assignment  to every tenant
under every Lease and has instructed such tenants to remit all Rents directly to
the following  account (and  Assignor  shall use good faith efforts to cause all
such  tenants  to remit all Rents  directly  to such  account,  or to such other
account as Assignee may from time to time specify in writing):

     Prior to the  occurrence  of an Event of Default  (as  defined  below),  in
accordance  with a  separate  Servicing  Agreement  entered  into  by and  among
Assignor, Assignee and ING North American Insurance Corp. (the "Servicer"),  the
Servicer shall remit to Assignor within three (3) Business Days after receipt of
the Rents the net Rent ("Net Rent")  remaining after payment of all debt service
due Assignee for the applicable  month with respect to the Mortgage  Obligations
and making all other payments required under the Servicing Agreement.  After the

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occurrence  of an  Event  of  Default  and  the  expiration  of  any  applicable
Standstill  Period  (as  defined  below),  in  addition  to any  other  remedies
available  to Assignee  under this  Assignment,  the Mortgage and the other Loan
Documents,  Assignee shall  immediately be entitled to receipt and possession of
all Rents and the  obligation  to cause  the  Servicer  to remit any Net Rent to
Assignor shall immediately cease.

3. EVENTS OF DEFAULT; REMEDIES

     An "Event of Default"  shall exist if any of the  following  conditions  or
events shall occur and be continuing:

     (a) There shall exist a Material Lease Event of Default (as defined below),
provided that Assignor  shall have the right (subject to there existing no other
Events of Default  hereunder or under any other Loan Document),  for up to three
months  consecutively  and for a total of up to six months  over the term of the
Loan for all such events,  to cure any one or more "Events of Default" under any
of the NYC Leases  before any of such  "Events of Default"  under any of the NYC
Leases shall constitute an Event of Default hereunder; or

     (b) Any Lease is terminated by the tenant thereunder or by any other person
empowered to do so,  acting as provided in Section 34.04 of the NYC Leases as in
effect  on the date  hereof  (or any  identical  or  similar  provisions  in any
subsequent Lease) or otherwise; or

     (c) Any amendment or modification  of any Lease,  other than a Non-Material
Amendment  permitted by Section 1.1(j), is entered into without Assignee's prior
written consent; or

     (d) Any Rents are not either (i) remitted directly to the account specified
in or  pursuant  to Section 2 or (ii)  caused by Assignor to be remitted to such
account (or as otherwise  directed by Assignee) not later than two Business Days
after such Rents are received by or on behalf of Assignor; or

     (e) Assignor defaults in the performance of or compliance with the terms of
Section 1.1(n); or

     (f) Assignor  defaults in the  performance of or compliance  with any other
term or condition of this  Assignment and such default is not remedied within 30
days after the earlier to occur of (i) its  obtaining  actual  knowledge of such
default and (ii) receiving written notice of such default from Assignee; or

         (g) a condition or event specified in any other Loan Document to be an
Event of Default (including the passage of any applicable grace or cure period)
shall occur and be continuing.

     As used herein, "Material Lease Event of Default" means:

     (i) any one or more "Events of Default" referred to in clauses (a)(i),  (c)
and (d) of  Section  18.01 of any NYC Lease as in effect on the date  hereof (or
any  identical  or  substantially  similar  event of default  referred to in any
subsequent version of any Lease); or

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     (ii) any one or more  material  "Events of Default"  referred to in clauses
(a)(ii)  and (b) of  Section  18.01 of any NYC  Lease as in  effect  on the date
hereof (or any identical or  substantially  similar event of default referred to
in any subsequent  version of any Lease),  provided that a determination in good
faith by  Assignee  that any such  event is  material  shall be  conclusive  for
purposes hereof.

     Upon the  occurrence of and during the  continuance of any Event of Default
described  in any  of  subsections  (a),  (b) or (c)  above  (a  "Curable  Lease
Default"),  and provided that Assignor and the other Borrowers are not otherwise
in default under the Loan Documents  beyond any applicable grace or cure period,
Assignor  shall  have a  period  of up to 90 days  from the  occurrence  of such
Curable  Lease  Default (the  "Standstill  Period") to cure such  Curable  Lease
Default or prepay or pay the Loans and all other Obligations (including, without
limitation,  any Make-Whole Amount and Breakage Cost Indemnity) in full, but not
in part, prior to Assignee  exercising its remedies under this Assignment and/or
any other Loan  Documents.  Should any Curable Lease Default exist following the
expiration of the Standstill Period,  Assignee shall be entitled to exercise all
rights and remedies under this Assignment and the other Loan Documents.

     Upon the  occurrence  of an  Event of  Default  and the  expiration  of any
applicable Standstill Period, Assignee may, at its option, subject to any rights
of tenants,  without  waiving such Event of Default and without notice or regard
to the adequacy of the security for the Mortgage  Obligations,  either in person
or by agent, nominee or attorney, or by a receiver appointed by a court, with or
without  bringing any action or proceeding,  dispossess  Assignor and its agents
and servants from the  Property,  without  liability  for  trespass,  damages or
otherwise, and exclude Assignor and its agents from the Property.

     Upon the  occurrence  of an  Event of  Default  and the  expiration  of any
applicable  Standstill  Period,  subject to any rights of tenants,  Assignee may
also take  possession  of the  Property  and all  books,  records  and  accounts
relating thereto and have, hold, manage,  lease and operate the Property on such
terms and for such period of time as Assignee may deem proper. In addition,  and
with or without taking  possession of the Property,  Assignee,  in its own name,
may demand, sue for or otherwise collect and receive all Rents,  including those
past due and unpaid and may apply any Rents  collected in such order of priority
as Assignee in its sole discretion deems appropriate, to the payment of:

     (a) all expenses of managing the Property,  including,  without limitation,
the  salaries,  fees and wages of a  managing  agent and such  other  persons or
entities  as Assignee  may deem  necessary  or  desirable,  and all  expenses of
operating and  maintaining  the Property,  including,  without  limitation,  all
taxes, claims, assessments, ground rents, water rents, sewer rents and any other
liens or  charges,  and  premiums  for all  insurance  which  Assignee  may deem
necessary or desirable, and the cost of all alterations, renovations, repairs or
replacements,  and all expenses  incident to taking and retaining  possession of
the Property;

     (b) the Mortgage Obligations; and

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     (c) all costs and reasonable  attorneys'  fees incurred in connection  with
the enforcement of this Assignment and any of the Loan Documents.

Such rights shall be in addition to, and not in substitution of, any rights of
Assignee under the Servicing Agreement.

4. NO LIABILITY OF ASSIGNEE

     This Assignment  shall not be construed to bind Assignee to the performance
of any of the covenants,  conditions,  or provisions  contained in any Lease, or
otherwise impose any obligation upon Assignee.  Assignee shall not be liable for
any loss  sustained by Assignor  resulting  from  Assignee's  failure to let the
Property  after an Event  of  Default,  or from any  other  act or  omission  of
Assignee  either in  collecting  the  Rents,  or if  Assignee  shall  have taken
possession of the Property,  in managing the Property after an Event of Default,
unless such loss is caused by the willful misconduct or bad faith of Assignee.

5. NO MORTGAGEE IN POSSESSION

     In the absence of taking actual possession of the Property by Assignee,  in
its own right and  person,  Assignee  (i)  shall  not be deemed a  mortgagee  in
possession,  (ii)  shall  not be  responsible  for the  payment  of any taxes or
assessments  with respect to the Property,  (iii) shall not be liable to perform
any  obligation  of the lessor under any Leases or under  applicable  law,  (iv)
shall not be liable to any person for any  dangerous or  defective  condition in
the  Property nor for any  negligence  in the  management,  upkeep,  repair,  or
control of the said Property  resulting in loss or injury or death to any person
unless the same shall result from  Assignee's  own gross  negligence  or willful
misconduct, and (v) shall not be liable in any manner for the remediation of any
Hazardous   Materials   located  on  the  Property  or  the   violation  of  any
Environmental Laws.

6. BANKRUPTCY

     Assignee  shall have the right to proceed in its own name or in the name of
Assignor in respect of any claim,  suit,  action or proceeding,  relating to any
Leases  in  a  proceeding  under  the  bankruptcy  laws  of  the  United  States
("Bankruptcy  Code")  including,  without  limitation,  the  right  to file  and
prosecute,  all to the exclusion of Assignor,  any proofs of claim,  complaints,
motions, applications, notices and other documents.

     If there  shall be  filed by or  against  Assignor  a  petition  under  the
Bankruptcy Code, and Assignor, as lessor under any Lease(s),  shall determine to
reject any Leases  pursuant to Section 365(a) of the Bankruptcy  Code,  Assignor
shall give  Assignee  not less than ten days' prior  notice of the date on which
Assignor shall apply to the bankruptcy court for authority to reject the Leases.
Assignee shall have the right,  but not the  obligation,  to serve upon Assignor
within such  ten-day  period a notice  stating  that (i)  Assignee  demands that
Assignor assume and assign the Lease to Assignee  pursuant to Section 365 of the
Bankruptcy  Code  and  (ii)  Assignee  covenants  to  cure or  provide  adequate
assurance  of future  performance  under the  Leases.  If  Assignee  serves upon
Assignor the notice described in the preceding sentence, Assignor shall not seek
to reject the Leases and shall comply with the demand provided for in clause (i)
of the preceding sentence within 30 days after the notice shall have been given,

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subject to the  performance  by Assignee of the covenant  provided for in clause
(ii) of the preceding sentence.

7. INDEMNITY OF ASSIGNEE

     Assignor hereby indemnifies Assignee for, and holds Assignee harmless from,
any and all liability, loss or damage that may be incurred under the
Leases, or under or by reason of this Assignment, and from any and all claims
and demands whatsoever that may be asserted against Assignee by reason of any
alleged obligations or undertakings under any of the Leases, except to the
extent that any such liability, loss, damages or demand results from Assignee's
own gross negligence or willful misconduct.

     Should  Assignee incur any such  liability  under the Leases or under or by
reason of this Assignment or in defense of any such claims or demands, except to
the  extent  that the  same  shall  have  resulted  from  Assignee's  own  gross
negligence or willful misconduct,  the amount thereof, including costs, expenses
and reasonable attorneys' fees, shall be secured by this Assignment and Assignor
shall reimburse Assignee therefor,  immediately upon demand and upon the failure
of  Assignor  so to do,  Assignee,  at its  option,  may  declare  all  Mortgage
Obligations immediately due and payable.

8. NO WAIVER OF RIGHTS BY ASSIGNEE

     Nothing contained in this Assignment and no act done or omitted by Assignee
pursuant to the powers and rights  granted it hereunder  shall be deemed to be a
waiver by Assignee of any of its rights and remedies  under the Mortgage  Notes,
the Mortgage or any other Loan  Document.  This  Assignment is made and accepted
without  prejudice to any of such rights and  remedies  possessed by Assignee to
collect the Mortgage  Obligations  and to enforce the Loan  Documents,  and said
rights and remedies may be exercised by Assignee either prior to, simultaneously
with, or subsequent to any action taken by it hereunder.

9. RELEASES OF PARTIES AND SECURITY

     Assignee may take or release other security for the payment of the
Mortgage Obligations, may release any party primarily or secondarily liable
therefor, and may apply any other security held by it to the satisfaction of any
portion of the Mortgage Obligations without prejudice to any of its rights under
this Assignment.

10. FUTURE ASSURANCES

     Assignor  agrees  that it will,  from time to time,  promptly  upon  demand
therefor by Assignee,  deliver to Assignee an executed  counterpart  of each and
every Lease. Further,  Assignor agrees that it will execute and acknowledge such
additional  assurances  and  assignments  as  Assignee  reasonably  may  request
covering any and all of the Leases.

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11. AMENDMENTS

     This Assignment may not be altered or amended except in a writing, intended
for that specific purpose, signed by both Assignor and Assignee.

12. HEADINGS AND CAPTIONS

     The headings and captions of various  sections of this  Assignment  are for
convenience  only and are not to be construed  as defining or  limiting,  in any
way, the scope or intent of the provisions hereof.

13. NOTICES

     All notices and  communications  provided for hereunder shall be in writing
and sent by (i) telecopy if the sender on the same day sends a  confirming  copy
of such notice by recognized overnight delivery service (charges prepaid),  (ii)
certified or registered mail with return receipt requested (postage prepaid), or
(ii) recognized overnight delivery service (with charges prepaid),  addressed in
all cases to any party hereto addressed to Assignor or Assignee, as the case may
be, at the address  furnished  below,  and that such address may be changed from
time to time by  either  party by  serving  a notice  on the  other as  provided
herein:

         Address of Assignor:

         444 Merrick Road, Suite 370
         Lynbrook, New York  11563
         Attn:  Jerome Cooper
         Fax:  (516) ____-_______

         Address of Assignee:

         ING USA ANNUITY AND LIFE INSURANCE COMPANY
         ING LIFE INSURANCE AND ANNUITY COMPANY
         RELIASTAR LIFE INSURANCE COMPANY
         SECURITY LIFE OF DENVER INSURANCE COMPANY
         c/o ING Investment Management LLC
         5780 Powers Ferry Road NW, Suite 300
         Atlanta, GA 30327-4347
         Attn: Private Placements
         Fax: (770) 690-5057

14. GOVERNING LAW

     This instrument shall be governed by the laws of the State of New York and,
upon the occurrence or an Event of Default,  Assignee shall have, in addition to
the rights and remedies set forth herein,  all rights and remedies  available to
Assignee as the holder of an assignment or leases,  rents, issues and profits in
the State of New York.

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15. DISCHARGE

     Until the  payment in full of the  Mortgage  Obligations,  this  Assignment
shall  continue  in full force and  effect,  whether or not  recorded.  Assignor
hereby  authorizes  Assignee to furnish to any person written notice,  that this
Assignment remains in effect and agrees that such person may rely upon and shall
be bound by such  statement.  Upon payment in full of the  Mortgage  Obligations
this Assignment  shall be void and of no effect,  and Assignee shall execute and
return to Assignor such  reasonable  documents and  instruments  evidencing  the
termination  of this  Assignment  as  Assignor  shall  submit  to  Assignee  for
signature.

16. CONSENT, ETC. OF ASSIGNEE

     To the extent that any consent,  approval,  decision or other determination
of Assignee is required  hereunder,  such consent,  approval,  decision or other
determination may be granted or made by the Required Lenders, unless pursuant to
the Loan Agreement (as defined below) the consent,  approval,  decision or other
determination  of all the Lenders is required as a result of the subject  matter
thereof.

17. SEVERABILITY

     If any one or more of the provisions contained in this Assignment shall for
any reason be held to be invalid,  illegal or unenforceable in any respect, such
invalidity,  illegality or unenforceability shall not affect any other provision
of this  Assignment but this  Assignment  shall be construed as if such invalid,
illegal, or unenforceable provision had never been contained herein.

18. WAIVER OF JURY TRIAL

     EACH  PARTY  HERETO  HEREBY  IRREVOCABLY,   KNOWINGLY,   VOLUNTARILY,   AND
INTENTIONALLY WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, ANY OF
THE LOAN  DOCUMENTS,  OR ANY COURSE OF CONDUCT,  COURSE OF DEALING OR STATEMENTS
(WHETHER  ORAL OR  WRITTEN)  RELATING  TO THE  FOREGOING.  THIS  PROVISION  IS A
MATERIAL INDUCEMENT FOR THE LENDERS TO ENTER INTO THE MORTGAGE LOAN.

19. DEFINITIONS

     Except as otherwise provided herein, capitalized terms used herein have the
meanings  ascribed to them in that certain Loan  Agreement of even date herewith
(the "Loan Agreement") by among the Lenders and the Borrowers which governs both
(i) the Mortgage Loan evidenced by the Mortgage  Notes and secured,  in part, by
this  Assignment  and  (ii)  the  Non-Mortgage  Loans  (as  defined  in the Loan
Agreement).

             [Remainder of page blank; next page is signature page.]

                                       10
<PAGE>

     IN WITNESS  WHEREOF,  each Assignor has duly executed this Assignment as of
the date first written above.

                                           ASSIGNOR:

                                           165-25 147th Avenue, LLC,
                                           a New York limited liability company

                                           By: ____________________________
                                           Name:
------------------------------
                                           Title:

                                           49-19 Rockaway Beach Boulevard, LLC,
                                           a New York limited liability company

                                           By: ____________________________
------------------------------
                                           Name:
                                           Title:

                                           85-01 34th Avenue, LLC,
                                           a New York limited liability company

                                           By: ____________________________
------------------------------
                                           Name:
                                           Title:

                                           114-15 Guy Brewer Boulevard, LLC,
                                           a New York limited liability company

                                           By: ____________________________
------------------------------
                                           Name:
                                           Title:

                                       11

<PAGE>

State of New York :
                  : ss:
County of         :

On the ___ day of June in the year 2007 , before me, the undersigned, personally
appeared

     ,  personally  known to me or  proved  to me on the  basis of  satisfactory
evidence to be the individual(s) whose name(s) is (are) subscribed to the within
instrument  and  acknowledged  to me  that  he/she/they  executed  the  same  in
his/her/their  capacity(ies),  and  that by  his/her/their  signature(s)  on the
instrument,  the  individual(s),   or  the  person  upon  behalf  of  which  the
individual(s) acted, executed the instrument.

                        ________________________________________________________
                        Signature and office of individual taking acknowledgment

State of New York :
                  : ss:
County of         :

On the ___ day of June in the year 2007 , before me, the undersigned, personally
appeared

     ,  personally  known to me or  proved  to me on the  basis of  satisfactory
evidence to be the individual(s) whose name(s) is (are) subscribed to the within
instrument  and  acknowledged  to me  that  he/she/they  executed  the  same  in
his/her/their  capacity(ies),  and  that by  his/her/their  signature(s)  on the
instrument,  the  individual(s),   or  the  person  upon  behalf  of  which  the
individual(s) acted, executed the instrument.

                        ________________________________________________________
                        Signature and office of individual taking acknowledgment

<PAGE>

State of New York :
                  : ss:
County of         :

On the ___ day of June in the year 2007 , before me, the undersigned, personally
appeared

     ,  personally  known to me or  proved  to me on the  basis of  satisfactory
evidence to be the individual(s) whose name(s) is (are) subscribed to the within
instrument  and  acknowledged  to me  that  he/she/they  executed  the  same  in
his/her/their  capacity(ies),  and  that by  his/her/their  signature(s)  on the
instrument,  the  individual(s),   or  the  person  upon  behalf  of  which  the
individual(s) acted, executed the instrument.

                        ________________________________________________________
                        Signature and office of individual taking acknowledgment

State of New York :
                  : ss:
County of         :

On the ___ day of June in the year 2007 , before me, the undersigned, personally
appeared

     ,  personally  known to me or  proved  to me on the  basis of  satisfactory
evidence to be the individual(s) whose name(s) is (are) subscribed to the within
instrument  and  acknowledged  to me  that  he/she/they  executed  the  same  in
his/her/their  capacity(ies),  and  that by  his/her/their  signature(s)  on the
instrument,  the  individual(s),   or  the  person  upon  behalf  of  which  the
individual(s) acted, executed the instrument.

                        ________________________________________________________
                        Signature and office of individual taking acknowledgment

                                       2

<PAGE>

                                  SCHEDULE A-1

                       DESCRIPTION OF FIRST GREEN PROPERTY

                                       3
<PAGE>

                                  SCHEDULE A-2

                      DESCRIPTION OF SECOND GREEN PROPERTY

                                       4
<PAGE>

                                  SCHEDULE A-3

                         DESCRIPTION OF TRIBORO PROPERTY

                                       5
<PAGE>

                                  SCHEDULE A-4

                         DESCRIPTION OF JAMAICA PROPERTY

                                       6
<PAGE>

                                  SCHEDULE B-1

                  DESCRIPTION OF LEASE RE FIRST GREEN PROPERTY

<PAGE>

                                  SCHEDULE B-2

                  DESCRIPTION OF LEASE RE SECOND GREEN PROPERTY

                                       2
<PAGE>

                                  SCHEDULE B-3

                    DESCRIPTION OF LEASE RE TRIBORO PROPERTY

                                       3
<PAGE>

                                  SCHEDULE B-4

                     DESCRIPTION OF LEASE RE JAMAICA PROPERTY

                                       4Unassociated Document

    Exhibit
      10.1

    

    Employment
      Agreement

    

    THIS
      EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of July 3,
      2007 and shall be effective as of July 9, 2007 (the “Effective Date”) by and
      between Tatonka
      Oil and Gas, Inc., a
      Colorado corporation, with an office located at 1515 Arapahoe Street, Tower
      1,
      10th
      Floor,
      Denver, Colorado 80202 (the “Company”) and Paul
      C. Slevin,
      an
      individual with an address located at 417 Oakwood Lane, Castle Rock, Colorado
      80108 (“Slevin”).

    

    WHEREAS,
      the Company desires to retain the services of Slevin as Chief Financial Officer
      and Slevin is willing to be employed by the Company in such
      capacity.

    

    NOW,
      THEREFORE, in consideration of the mutual covenants contained herein, the
      parties agree as follows:

    

    1.
      Employment.
      Slevin
      is hereby employed and engaged to serve the Company as the Company’s Chief
      Financial Officer, or such additional titles as the Company shall specify from
      time to time with the consent of Slevin, and Slevin does hereby accept and
      agrees to such engagement and employment. 

    

    2.
      Duties.
      Slevin’s
      duties shall be such duties and responsibilities as the Company shall specify
      from time to time, which shall entail those duties customarily performed by
      the
      Chief Financial Officer of a company with a business commensurate with those
      of
      the Company. Slevin shall have such authority, discretion, power and
      responsibility, and shall be entitled to office, secretarial and other
      facilities and conditions of employment, as are customary or appropriate to
      his
      position. Slevin shall diligently and faithfully execute and perform such duties
      and responsibilities, subject to the approval of the Company’s Chief Executive
      Officer. Slevin shall be responsible and report to the Company’s Chief Executive
      Officer. Slevin shall devote the majority of his attention, energy, and skill
      to
      the business and affairs of the Company. Slevin shall be permitted to engage
      in
      other business activities that do not directly compete with the Company.

    

    Nothing
      in this Agreement shall preclude Slevin from devoting reasonable periods
      required for:

    

    
      	 	
              (a)

            	
              serving
                as a director or member of a committee of any organization or corporation
                involving no conflict of interest with the interests of the
                Company;

            

    

    

    
      	 	
              (b)
                

            	
              serving
                as a consultant in his area of expertise (in areas other than in
                connection with the business of the Company), to government, industrial,
                and academic panels where it does not conflict with the interests
                of the
                Company; and

            

      	 	 	 

      	 	(c)	managing
              his personal investments or engaging in any other non-competing
              business;

    

     

    provided
      that such activities do not materially interfere with the regular performance
      of
      his duties and responsibilities under this Agreement as reasonably determined
      in
      good faith by the Company.

    

    3.
      Best Efforts of Slevin.
      During
      his employment hereunder, Slevin shall devote the majority of his business
      time,
      best commercially reasonable efforts, business judgment, skill, and knowledge
      to
      the advancement of the Company's interests and to the discharge of his duties
      and responsibilities hereunder. Notwithstanding the foregoing, nothing herein
      shall be construed as preventing Slevin from investing his assets in any
      business.

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

     

    4.
      Compensation of Slevin. 

    

    (a) Base
      Compensation.
      As
      compensation for the services provided by Slevin under this Agreement, the
      Company shall pay Slevin an annual salary of One Hundred Fifty Thousand Dollars
      ($150,000). The compensation of Slevin under this Section shall be paid in
      accordance with the Company's usual payroll procedures. 

    

    (b) Stock
      and Stock Options.
      Upon
      execution of this Agreement, the Company shall grant Slevin options to purchase
      250,000 shares of the Company’s common stock with an exercise price of $0.85,
      which is the fair market value of such stock on the date of grant, 125,000
      shares at an exercise price of $1.00, and 125,000 shares at an exercise price
      of
      $1.25. Options will vest at 25% per year. Upon closing future equity financing,
      the Company shall grant Slevin an additional 500,000 options to purchase the
      Company’s stock. The exercise price of 250,000 of these options shall be set at
      market value, 125,000 options at market plus $0.15, and 125,000 options at
      market plus $0.40. The options shall vest 25% per year from grant and have
      a
      term of five (5) years from the respective dates of vesting.

    

    (c) The
      options shall have a term of five (5) years from the respective dates of
      grant.

    

    In
      the
      event of a conflict between the above grant and either the shareholder approved
      stock option plan or corresponding board resolution, the covenants of the
      approved plan and board resolution take precedence.

    

    (d) Bonus.
      In
      addition to the base compensation in Section 5(a), Slevin shall be eligible
      to
      receive an annual bonus determined by the Board of Directors based on the
      performance of the Company and Slevin. 

    

    5.
      Benefits. Slevin
      shall also be entitled to participate in any and all Company benefit plans,
      from
      time to time, in effect for employees of the Company, including, but not limited
      to, health, dental and vision insurance plans available to the Company's senior
      management executives and their dependents. Such participation shall be subject
      to the terms of the applicable plan documents and generally applicable Company
      policies.

    

    6.
      Vacation, Sick Leave and Holidays.
      Slevin
      shall be entitled to four (4) weeks of paid vacation, with such vacation to
      be
      scheduled and taken in accordance with the Company's standard vacation policies.
      Two (2) weeks of unused, accrued vacation can be carried into the next year.
      Remaining unused, accrued vacation time will be paid during the first quarter
      of
      the following year. In addition, Slevin shall be entitled to such sick leave
      and
      holidays at full pay in accordance with the Company's policies established
      and
      in effect from time to time.

    

    7.
      Business Expenses.
      The
      Company shall promptly reimburse Slevin for all reasonable out-of-pocket
      business expenses incurred in performing Slevin’s duties and responsibilities
      hereunder in accordance with the Company's policies, provided Slevin promptly
      furnishes to the Company adequate records of each such business expense. Such
      expenses shall be reimbursed in accordance with the Company’s regular
      reimbursement practices.

    

    8.
      Location of Slevin's Activities. Slevin’s
      principal place of business in the performance of his duties and obligations
      under this Agreement shall be at the Company’s primary office in Denver,
      Colorado. Notwithstanding the preceding sentence, Slevin will engage in such
      travel and spend such time in other places
      as
      may be reasonably necessary or appropriate in discharging of his duties
      hereunder. 

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

    

    9.
      Confidential Information/Inventions. 

    

    (a)
      Confidential
      Information.
      Slevin
      shall not, in any manner, for any reasons, either directly or indirectly,
      divulge or communicate to any person, firm or corporation, any confidential
      information concerning any matters not generally known or otherwise made public
      by Company which affects or relates to the Company’s business, finances,
      marketing and/or operations, research, development, inventions, products,
      designs, plans, procedures, or other data (collectively, “Confidential
      Information”) except in the ordinary course of business, as necessary to joint
      venture partners or as required by applicable law for a period of one year.
      Without regard to whether any item of Confidential Information is deemed or
      considered confidential, material, or important, the parties hereto stipulate
      that as between them, to the extent such item is not generally known in the
      oil
      and gas industry, such item is important, material, and confidential and affects
      the successful conduct of the Company’s business and goodwill, and that any
      breach of the terms of this Section 9 shall be a material and incurable breach
      of this Agreement. Confidential Information shall not include: (i) information
      obtained or which became known to Slevin other than through his employment
      by
      the Company; (ii) information in the public domain at the time of the disclosure
      of such information by Slevin; (iii) information that Slevin can document was
      independently developed by Slevin; (iv) information that is disclosed by Slevin
      with the prior written consent of the Company and (v) information that is
      disclosed by Slevin as required by law, governmental regulation or court
      order.

    

    (b)
      Documents.
      Slevin
      further agrees that all documents and materials furnished to Slevin by the
      Company and relating to the Company’s business or prospective business are and
      shall remain the exclusive property of the Company. Slevin shall deliver all
      such documents and materials, not copied, to the Company upon demand therefore
      and in any event upon expiration or earlier termination of this Agreement.
      Any
      payment of sums due and owing to Slevin by the Company upon such expiration
      or
      earlier termination shall be conditioned upon returning all such documents
      and
      materials, and Slevin expressly authorizes the Company to withhold any payments
      due and owing pending return of such documents and materials.

    

    (c)
      Inventions. All
      ideas, inventions, and other developments or improvements conceived or reduced
      to practice by Slevin, alone or with others, during the Term of this Agreement,
      whether or not during working hours, that are within the scope of the business
      of the Company or that relate to or result from any of Slevin’s work or projects
      or the services provided by Slevin to the Company pursuant to this Agreement,
      shall be the exclusive property of the Company. Slevin agrees to assist the
      Company, at the Company’s expense, to obtain patents and copyrights on any such
      ideas, inventions, writings, and other developments, and agrees to execute
      all
      documents necessary to obtain such patents and copyrights in the name of the
      Company.

    

    (d)
      Disclosure. During
      the Term, Slevin will promptly disclose to the Board of Directors full
      information concerning any interest, direct or indirect, of Slevin (as owner,
      shareholder, partner, lender or other investor, director, officer, employee,
      consultant or otherwise) or any member of his immediate family in any business
      that is reasonably known to Employee to purchase or otherwise obtain services
      or
      products from, or to sell or otherwise provide services or products to, the
      Company or to any of its suppliers or customers.

    

    10.
      Non-Compete. Except
      as
      expressly permitted herein, during the Term of this Agreement, Slevin shall
      not
      engage in any of the following competitive activities: (a) engaging directly
      or
      indirectly in any business or activity substantially similar to any business
      or
      activity engaged in (or proposed to be engaged in) by the Company in North
      America; (b) engaging directly or indirectly in any business or activity competitive
      with any business or activity engaged in (or proposed to be engaged in) by
      the
      Company in North America; (c) soliciting or taking away any employee, agent,
      representative, contractor, supplier, vendor, customer, franchisee, lender
      or
      investor of the Company, or attempting to so solicit or take away;
      (d) interfering
      with any contractual or other relationship between the Company and any employee,
      agent, representative, contractor, supplier, vendor, customer, franchisee,
      lender or investor;
      or (e) using, for the benefit of any person or entity other than the Company,
      any Confidential Information of the Company. The foregoing covenant prohibiting
      competitive activities
      shall survive the termination of this Agreement and shall extend, and shall
      remain enforceable against Slevin, for the period of the lesser of (6) six
      months or the duration of termination
      pay as described in paragraph 13 below, following the date this Agreement is
      terminated; provided, however, that after Slevin is terminated from employment
      with the Company
      for any reason he may engage in providing accounting and related management
      services to any entity in any business, including, without limitation, full
      time
      employment with 

     

     

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

    any
      entity in the foregoing described capacities. In
      addition, during the one-year period following such expiration or earlier
      termination, neither Slevin nor the Company shall make any negative statement
      of
      any kind concerning the Company or its affiliates, or their directors, officers
      or agents or Slevin.

     

    11.
      Injunctive Relief. Slevin
      acknowledges and agrees that the covenants and obligations of Slevin set forth
      in Sections 9 and 10 with respect to non-competition, non-solicitation,
      confidentiality and the Company’s property relate to special, unique and
      extraordinary matters and that a violation of any of the terms of such covenants
      and obligations will cause the Company irreparable injury for which adequate
      remedies are not available at law. Therefore, Slevin agrees that the Company
      shall be entitled to an injunction, restraining order or such other equitable
      relief (without the requirement to post bond) as a court of competent
      jurisdiction may deem necessary or appropriate to restrain Slevin from
      committing any violation of the covenants and obligations referred to in this
      Section 11. These injunctive remedies are cumulative and in addition to any
      other rights and remedies the Company may have at law or in equity.

    

    12.
      Survival.
      Slevin
      agrees that the provisions of Sections 9, 10 and 11 shall survive expiration
      or
      earlier termination of this Agreement for any reasons, whether voluntary or
      involuntary, with or without cause, and shall remain in full force and effect
      thereafter. Notwithstanding the foregoing, if this Agreement is terminated
      upon
      the dissolution of the Company, the filing of a petition in bankruptcy by the
      Company or upon an assignment for the benefit of creditors of the assets of
      the
      Company, Sections 9, 10 and 11 shall be of no further force or
      effect.

    

    13.
      Termination.
      Your
      employment with the Company will be “at will”, meaning that either you or the
      Company will be entitled to terminate your employment at any time and for any
      reason, with or without cause, after ninety (90) days written notice is given.
      Notwithstanding any other provisions hereof to the contrary, Slevin’s employment
      hereunder shall terminate under the following circumstances:

    

    
      	 	
              (a)

            	
              Voluntary
                Termination by Slevin.
                Slevin shall have the right to voluntarily terminate this Agreement
                and
                his employment hereunder at any time during the Employment Term.
                

            

    

    

    
      	 	
              (b)

            	
              Voluntary
                Termination by the Company. The
                Company shall have the right to voluntarily terminate this Agreement
                and
                Slevin’s employment hereunder at any time. If the Company initiates an “at
                will” termination of your employment as described above the Company agrees
                to pay Slevin a lump-sum separation fee at the time of termination
                equal
                to six (6) months salary plus benefits and be granted immediate vesting
                of
                all unvested stock and options. 

            

    

    

    
      	 	
              (c)

            	
              Termination
                for Cause.
                The Company shall have the right to terminate this Agreement and
                Slevin’s
                employment hereunder at any time for cause. For purposes of this
                Agreement, the term “cause” for termination by the Company shall be (a) a
                conviction of or plea of guilty or nolo
                contendere
                by
                Slevin to a felony, or any crime involving fraud or embezzlement;
                (b) the
                refusal by Slevin to perform his material duties and obligations
                hereunder; (c) Slevin’s willful and intentional misconduct in the
                performance of his material duties and obligations; or (d) if Slevin
                or
                any member of his family makes any personal profit arising out of
                or in
                connection with a transaction to which the Company is a party or
                with
                which it is associated without making disclosure to and obtaining
                the
                prior written consent of the Chief Executive Officer. The written
                notice
                given hereunder by the Company to Slevin shall specify in reasonable
                detail the cause for termination. For purposes of this Agreement,
“family”
                shall mean Slevin’s spouse and/or children. In the case of a termination
                for the causes described in (a) and (d) above, such termination shall
                be
                effective upon receipt of the written notice. In the case of the
                causes
                described in (b) and (c) above, such termination notice shall not
                be
                effective until ten (10) days after Slevin’s receipt of such notice,
                during which time Slevin shall have the right to respond to the Company’s
                notice and cure the breach or other event giving rise to the
                termination.

            

    

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

    

    Slevin
      shall also have the right to terminate this Agreement and his employment
      hereunder for cause. For purposes of this Agreement the term “cause” for
      termination by Slevin shall be (a) a relocation of the principal place of
      employment of Slevin in a location outside a 25 mile radius of Denver, Colorado;
      or (b) a material diminution in the responsibilities or duties of Slevin as
      the
      Chief Financial Officer of the Company. Slevin shall give written notice to
      the
      Company of termination for cause by him and such notice shall specify in
      reasonable detail the cause for termination. In case of the termination for
      the
      cause described in (a) and (b) immediately above, such termination notice shall
      not be effective until ten (10) days after receipt by the Company of such notice
      during which time the Company shall have the right to respond to Slevin’s notice
      and cure the event giving rise to the termination. 

    

    
      	 	
              (d)

            	
              Event
                of Sale, Merger or Change of Control.
                In
                the event of the sale, merger or change of control of the Company
                during
                your employment, or in the event of an agreement to sell, merge or
                change
                control of the Company during your employment, the Company or its
                successor(s) agree to immediately vest all unvested stock and options
                and
                offer you employment under the terms given above, for a period of
                at least
                (6) six months after the sale or merger closing date. If this employment
                extension is not given by the Company or its successor(s) and accepted
                by
                you, then the Company or its successor(s) agree to pay to you a lump-sum
                separation fee equivalent to (6) six months of salary plus benefits.
                Employment “at will” provisions described above cannot be applied by the
                Company from 120 days before the date of the agreement to sell, merge
                or
                change control of the Company to the closing date. If an “at will” action
                to terminate your employment is taken by the Company during this
                time
                period, or if you are asked to voluntarily end your employment by
                the
                Company during this time period, you will be entitled to immediate
                vesting
                of all unvested stock and options and a lump-sum payment of the equivalent
                of your salary and benefits for (6) six months, to be paid on or
                before
                the sale, change of control or merger closing date.
                

            

    

     

    
      	 	
              (e)

            	
              Termination
                Upon Death.
                If
                Slevin dies during the Term of this Agreement, this Agreement shall
                terminate, except that Slevin’s legal representatives shall be entitled to
                receive any earned but unpaid compensation or expense reimbursement
                due
                hereunder through the date of
                death.

            

    

    

    
      	 	
              (f)

            	
              Termination
                Upon Disability.
                If, during the Term of this Agreement, Slevin suffers and continues
                to
                suffer from a “Disability” (as defined below), then the Company may
                terminate this Agreement by delivering to Slevin thirty (30) calendar
                days’ prior written notice of termination based on such Disability,
                setting forth with specificity the nature of such Disability and
                the
                determination of Disability by the Company. For the purposes of this
                Agreement, “Disability” means Slevin’s inability, with reasonable
                accommodation, to substantially perform Slevin’s duties,
                services and obligations under this Agreement due to physical or
                mental
                illness or other disability for a continuous, uninterrupted period
                of one
                hundred and eighty (180) calendar days or two hundred and ten (210)
                days
                during any twelve month period. Upon any such termination for Disability,
                Slevin shall be entitled to receive any earned but unpaid compensation
                or
                expense reimbursement due hereunder through the date of
                termination.

            

    

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	 	
              (g)

            	
              Effect
                of Termination. 

            

    

    

    (i)
      In
      the event that this Agreement and Slevin’s employment is voluntarily terminated
      by Slevin pursuant to Section 13(a), or in the event the Company terminates
      this
      Agreement for cause pursuant to Section 13(c), all obligations of the Company
      and all duties, responsibilities and obligations of Slevin under this Agreement
      shall cease. Upon such termination, the Company shall (i) pay Slevin a cash
      lump
      sum equal to all accrued base salary through the date of termination plus all
      accrued vacation pay and bonuses, if any; and (ii) any shares of common stock
      or
      options granted to Slevin by the Company which have not vested pursuant to
      Section 4 hereof shall be terminated. 

    

    (ii)
      In
      the event that this Agreement and Slevin’s employment is voluntarily terminated
      by the Company pursuant to Section 13(b), all obligations of the Company and
      all
      duties, responsibilities and obligations of Slevin under this Agreement shall
      cease. Upon such termination, the Company shall pay Slevin a cash lump sum
      equal
      to all accrued base salary through the date of termination plus all accrued
      vacation pay and bonuses, if any; (ii) the separation fee; and (iii) any shares
      of common stock or options granted to Slevin by the Company pursuant to Section
      4 hereof shall become immediately vested. 

    

    (iii)
      In
      the event this Agreement is terminated upon the death of Slevin pursuant to
      Sections 13(e), Slevin’s estate shall be entitled to all compensation pursuant
      to Sections 4 and 5 for the period of 6 months after his death. Payment will
      be
      made to Slevin’s estate. In the event of a merger, consolidation, sale, or
      change of control, the Company's rights hereunder shall be assigned to the
      surviving or resulting company, which company shall then honor this Agreement
      with Slevin and his estate.

     

    14.
      Resignation as Officer.
      In the
      event that Slevin’s employment with the Company is terminated for any reason
      whatsoever, Slevin agrees to immediately resign as an Officer and/or Director
      of
      the Company and any related entities. For the purposes of this Section 14,
      the
      term the "Company" shall be deemed to include subsidiaries, parents, and
      affiliates of the Company. 

    

    15.
      Governing Law, Jurisdiction and Venue.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Colorado without giving effect to any applicable conflicts of law
      provisions.

    

    16.
      Independent Legal Advice.
      The
      Company has obtained legal advice concerning this Agreement and has requested
      that Slevin obtain independent legal advice with respect to same before
      executing this Agreement. Slevin, in executing this Agreement, represents and
      warranties to the Company that he has been so advised to obtain independent
      legal advice, and that prior to the execution of this Agreement he has so
      obtained independent legal advice, or has, in his discretion, knowingly and
      willingly elected not to do so.

    

    17.
      Business Opportunities.
      During
      the Employment Term Slevin agrees to bring to the attention of the Company’s
      Chief Executive Officer and the Company’s Board of Directors all written
      business proposals that come to Slevin’s attention and all business or
      investment opportunities of whatever nature that are created or devised by
      Slevin and that relate to areas in which the Company conducts business and
      might
      reasonably be expected to be of interest to the Company or any of its
      subsidiaries.

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

    18.
      Employee’s Representations and Warranties.
      Slevin
      hereby represents and warrants that he is not under any contractual obligation
      to any other company, entity or individual that would prohibit or impede Slevin
      from performing his duties and responsibilities under this Agreement and that
      he
      is free to enter into and perform the duties and responsibilities required
      by
      this Agreement. 

    

    19.
      Indemnification.

    

    
      	 	
              (a)

            	
              The
                Company agrees that if Slevin is made a party, or is threatened to
                be made
                a party, to any action, suit or proceeding, whether civil, criminal,
                administrative or investigative (a "Proceeding"), by reason of the
                fact
                that he is or was a director, officer, agent or employee of the Company
                or
                is or was serving at the request of the Company as a director, officer,
                member, employee or agent of another corporation, partnership, joint
                venture, trust or other enterprise, including service with respect
                to
                employee benefit plans, whether or not the basis of such Proceeding
                is
                Slevin’s alleged action in an official capacity while serving as a
                director, officer, member, employee or agent, Slevin shall be indemnified
                and held harmless by the Company to the fullest extent permitted
                or
                authorized by the Company's certificate of incorporation or bylaws
                or, if
                greater, by the laws of the State of Colorado, against all cost,
                expense,
                liability and loss (including, without limitation, attorney's fees,
                judgments, fines, ERISA excise taxes or penalties and amounts paid
                or to
                be paid in settlement) reasonably incurred or suffered by Slevin
                in
                connection therewith, and such indemnification shall continue as
                to Slevin
                even if he has ceased to be a director, member, employee or agent
                of the
                Company or other entity and shall inure to the benefit of Slevin’s heirs,
                executors and administrators. The Company shall advance to Slevin
                to the
                extent permitted by law all reasonable costs and expenses incurred
                by his
                in connection with a Proceeding within 20 days after receipt by the
                Company of a written request, with appropriate documentation, for
                such
                advance. Such request shall include an undertaking by Slevin to repay
                the
                amount of such advance if it shall ultimately be determined that
                he is not
                entitled to be indemnified against such costs and
                expenses.

            

    

    

    
      	 	
              (b)

            	
              Neither
                the failure of the Company (including its Board of Directors, independent
                legal counsel or stockholders) to have made a determination prior
                to the
                commencement of any proceeding concerning payment of amounts claimed
                by
                Slevin that indemnification of Slevin is proper because he has met
                the
                applicable standard of conduct, nor a determination by the Company
                (including its Board of Directors, independent legal counsel or
                stockholders) that Slevin has not met such applicable standard of
                conduct,
                shall create a presumption that Slevin has not met the applicable
                standard
                of conduct.

            

    

    

    
      	 	
              (c)

            	
              The
                Company agrees to continue and maintain a liability insurance policy
                with
                a minimum face amount of $5 million covering Slevin to the extent
                the
                Company provides such coverage for its other executives and
                officers.

            

    

    

    
      	 	
              (d)

            	
              Promptly
                after receipt by Slevin of notice of any claim or the commencement
                of any
                action or proceeding with respect to which Slevin is entitled to
                indemnity
                hereunder, Slevin shall notify the Company in writing of such claim
                or the
                commencement of such action or proceeding, and the Company shall
                (i)
                assume the defense of such action or proceeding, (ii) employ counsel
                reasonably satisfactory to Slevin, and (iii) pay the reasonable fees
                and
                expenses of such counsel. Notwithstanding the preceding sentence,
                Slevin
                shall be entitled to employ counsel separate from counsel for the
                Company
                and from any other party in such action if Slevin reasonably determines
                that a conflict of interest exists which makes representation by
                counsel
                chosen by the Company not
                advisable. In such event, the reasonable fees and disbursements of
                such
                separate counsel for Slevin shall be paid by the Company to the extent
                permitted by law.

            

    

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	 	
              (e)

            	
              After
                the termination of this Agreement and upon the request of Slevin,
                the
                Company agrees to reimburse Slevin for all reasonable travel, legal
                and
                other out-of-pocket expenses related to assisting the Company to
                prepare
                for or defend against any action, suit, proceeding or claim brought
                or
                threatened to be brought against the Company or to prepare for or
                institute any action, suit, proceeding or claim to be brought or
                threatened to be brought against a third party arising out of or
                based
                upon the transactions contemplated herein and in providing evidence,
                producing documents or otherwise participating in any such action,
                suit,
                proceeding or claim. In the event Slevin is required to appear after
                termination of this Agreement at a judicial or regulatory hearing
                in
                connection with Slevin's employment hereunder, or Slevin's role in
                connection therewith, the Company agrees to pay Slevin a sum, to
                be
                mutually agreed upon by Slevin and the Company, a daily fee and reasonable
                expenses for each day of his appearance and each day of preparation
                therefore.

            

    

    

    20.
      Notices.
      All
      demands, notices, and other communications to be given hereunder, if any, shall
      be in writing and shall be sufficient for all purposes if personally delivered,
      sent by facsimile or sent by United States mail to the address below or such
      other address or addresses as such party may hereafter designate in writing
      to
      the other party as herein provided.

     

    
      	 Company:	 Slevin:
	 Tatonka Oil and Gas Company,
              Inc. 	 417
              Oakwood Lane
	 1515 Arapahoe Street, Tower 1, 10th
              Floor	 Castle Rock, Colorado
              80108
	 Denver, CO 80202 	 
	 Fax # (303) 949-4101 	 

    

           

    21.
      Entire Agreement.
      This
      Agreement contains the entire agreement of the parties and there are no other
      promises or conditions in any other agreement, whether oral or written. This
      Agreement supersedes any prior written or oral agreements between the parties.
      This Agreement may be modified or amended, if the amendment is made in writing
      and is signed by both parties. This Agreement is for the unique personal
      services of Slevin and is not assignable or delegable, in whole or in part,
      by
      Slevin. This Agreement may be assigned or delegated, in whole or in part, by
      the
      Company and, in such case, shall be assumed by and become binding upon the
      person, firm, company, corporation or business organization or entity to which
      this Agreement is assigned, subject to the provisions of section 13 (d). The
      headings contained in this Agreement are for reference only and shall not in
      any
      way affect the meaning or interpretation of this Agreement. If any provision
      of
      this Agreement shall be held to be invalid or unenforceable for any reason,
      the
      remaining provisions shall continue to be valid and enforceable. The failure
      of
      either party to enforce any provision of this Agreement shall not be construed
      as a waiver or limitation of that party's right to subsequently enforce and
      compel strict compliance with every provision of this Agreement. This Agreement
      may be executed in two or more counterparts, each of which shall be deemed
      an
      original, but all of which together shall constitute one and the same instrument
      and, in pleading or proving any provision of this Agreement, it shall not be
      necessary to produce more than one of such counterparts.

    

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      of page intentionally left blank.]

    
 

    
      
         

      

      
         

        
          

        

      

      
         

        
        

      

    

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

     

     

     

    
      	
              Tatonka
                Oil and Gas Company, Inc.:

               

               

               

            	 	 	
              Paul
                C.
                Slevin:

               

               

            
	/s/ DIRCK
              TROMP 	 	 	/s/ PAUL
              C.
              SLEVIN
	
              
Dirck
              Tromp	 	 	
              
Paul
              C. Slevin
	Chief Executive Officer

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