ASRock is a subsidy of ASUS that makes budget boards. Fewer features, but better actual boards at low price points such as that.
For that price point, I'd get the Gigabyte z77x-ud3h as my first choice and the ASRock Extreme 4 as my second.
Don't use an H50. A closed-loop water-cooler will be MILES worse than an air cooler. They're noisier, less efficient, more prone to breaking, and almost guaranteed to hurt your system when they do break.
Get a Hyper 212+ or EVO. They cool as well as that POS, and do it quieter, while being easier on your wallet.