HomeMy WebLinkAboutContinental Ranch Inc; 1998-10-30; (2)ASSIGNMENT AND ASSUMPTION AGREEMENT
Pursuant to an Agreement for Filing of Final Maps Within Assessment District
No. 96-1 (Rancho Carillo) dated October 5, 1998 (the "Agreement") between the CITY OF
CARLSBAD (Tity ") and CONTINENTAL RANCH, INC., a Delaware corporation
("Assignor"), which Agreement is hereby incorporated herein by this reference, and for good
and valuable consideration, receipt of which is hereby acknowledged, the undersigned agree as
follows:
1. The assignment and assumption provided for under this Assignment and
Assumption Agreement ("Assignment") is made together with the sale, transfer or assignment
of all or a part of the property subject to the Agreement. The property sold, transferred or
assigned together with this Assignment is described in Exhibit attached hereto and
incorporated herein by this reference (the "Subject Property").
"A"
2. Assignor hereby grants, sells, transfers, conveys assigns and delegates to
Shea Homes Limited Partnership, a California limited partnership ("Assignee"), all of Assignor's
rights, title, interest, benefits, privileges, duties and obligations arising under or from the
Agreement with respect to the Subject Property.
3. Assignee hereby accepts the foregoing assignment and unconditionally
assumes and agrees to perform all of the duties and obligations of Assignor arising under or
from the Agreement as owner of the Subject Property and Assignor is hereby released from all
such duties and obligations.
4. The sale, transfer or assignment of the Subject Property and the assignment
and assumption provided for under this Assignment are the subject of additional agreements
between Assignor and Assignee. Notwithstanding any term, condition or provision of such
additional agreements, the rights of the City arising under or from the Agreement and this
Assignment shall not be affected, diminished or defeated in any way, except upon the express
written agreement of the City.
5. Assignor and Assignee execute this Assignment pursuant to Section 4 of
the Agreement, and the City evidences its consent to this Assignment by signing below.
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IN WITNESS WHEREOF, the parties have executed this Assignment on a+br&/RF .
ASSIGNOR:
CONTINENTAL RANCH, INC., a Delaware
corporation
ASSIGNEE:
SHEA HOMES LIMITED PARTNERSHIP, a
California limited partnership
By: J.F. SHEA CO., INC., a Nevada
corporation, General Partner
By:
NamcRichard Gustaf son
Title: AsHstant Secrgtary /
By:
Name : ' DalevHolbrook
T it 1 e : Assistant Secretary
z
-
The City hereby consents to this
Assignment.
APPROVED AS TO FORM:
CITY:
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EXHIBIT A
DESCRIPTION OF SUBJECT PROPERTY
me A Isheal:
Lot 205 Of CARLSBAD TRACT NO. 97-02 RANCHO CARRlLLO VILLAGES "A-D", in the City
of Carisbad, County of San Diego, State of California. according to Map thereof No. 13582,
filed in the office of the County Remder of San Diego County. California on June 10. 1998.
portion of Villaqe J and Port ion of Villaqe Q Phase 1 (SheaNDC):
Lots 46 through 60, inclusive of CARLSEAD TRACT NO. 93-01 RANCHO CARRILLO
VILLAGE J. in the City of Carlsbad, County of San Diego. State of California, according to
Map thereof No. 13552, filed in the Office of the County Recorder of San Diego County. California, on March 31, 1998; and
Lots 39 through 52, indusive, and 68 through 80, inclusive, of CARLSBAD TRACT NO. 93-04
RANCHO CARRILL0 VILLAGE "Q" PHASE 1, according to Map thereof No. 13551, filed in the Office of the County Recorder of San Diego County, March 31,1998.
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