HomeMy WebLinkAboutContinental Ranch Inc; 1998-10-30; (3)ASSIGNMENT AND ASSUMPTION AGREEMENT
Pursuant to an Agrement for Filing of Final Maps Within Assessment District
No- 96-1 (Rancho Carillo) dated October 5, 1998 (the "Agreement") between the CITY OF
CARLsBm ("City") and CONTINENTAL RANCH, XNC., a Delaware corporation
("Assignor"), which Agreement is hereby incorporated herein by this reference, and for good
and vaIuable consideration, receipt of which is hereby acknowledged, tfie undersi,pxl agree as
follows:
1, The assignment and assumption provided for under this Assignment and
Assumption Agreement ("Assignment") is made tozether with the sale, transfer or assignment
of all or a part of Lhe property subject to the Ageement. Tfie property sold, transferred or
assigned together with is Assi,gmeent is described in Exhibit "A" attached herem and
incorporated herein by this reference (the "Subject Property").
2. Assignor bereby grants, sells, transfers. conveys assi,cps and delegates to
Monarch Communities of California, a California corporation ("Assignee"). dl of Assignor's
rights, title, interest, benefits, privileges, duties and obligations arising under or from the
Agreement with respect to the Subject Prom.
3. Assignee hereby accqts the foregoing assignment and unconditionally assum and agrees to perform all of the duties and obliations of Assignor arising under or
from the Agrement as owner of the Subject Property arid Assignor is hereby released from all
such duties aai obligations.
4. The saIe, transfer or assignment of the Subject Property and the assignment
and assumption provided for under this Assignment are the subject of additional agreements
between Assig-or and Assignnee. Notwithstanding any rem, condition or provision of such
additional agreements, the righls of the City &ing under or from the Agrement and this
Assignment sMl 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 S,ection 4 of
~e Ageement, and the City evidences its onsent to this Assi,onment by signing below.
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N ms WHEREOF, the parties have executed this Assignment on
ASSIGNOR;
CO"ENTAL RANCH, INC., a Delaware
CQrpoI2ltion
a
The City hereby c0-6 to this
Assignment.
CITY:
CITY OF CARLSBAD
APPROVED AS TO FORM:
1rs-9 Manager
2
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