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<br /> of June 28, 2012 and recorded in the Official Records of San Mateo County on July 3, 2012 as
<br /> Document No.2012-093739 ("Stormwater Maintenance Agreement").
<br /> D. As used in this Assignment, the Affordable Housing Agreement, Landscape
<br /> Maintenance Agreement, and Stormwater Maintenance Agreement, are sometimes hereinafter
<br /> collectively referred to as the"City Agreements".
<br /> E. Urban Housing Redwood City LLC, a Delaware limited liability company, who
<br /> subsequently changed its name to SAC Redwood City Apartments LLC, a Delaware limited
<br /> liability company, as Declarant entered into that certain Declaration of Covenants, Conditions
<br /> and Restrictions for 2580 E1 Camino Real—Urban Housing Redwood City LLC dated as of June
<br /> 28, 2012 and recorded in the Official Records of San Mateo County on July 3, 2012 as
<br /> Document No.2012-093737 (the "CC&R's").
<br /> F. Pursuant to the terms of the Agreement for the Purchase and Sale of Real Property
<br /> and Joint Escrow Instructions with an Effective Date of March 16, 2015 by and between
<br /> Assignor, as Seller, and Boulevard City LLC, a Delaware limited liability company, as Buyer
<br /> (the "Purchase Agreement"), Assignor has conveyed to Assignee, as of even date herewith, that
<br /> certain real property commonly known as 2580 EI Camino Real, Redwood City, CA and more
<br /> particularly described on E�ibit A attached hereto ("Pro ert ").
<br /> G. Assignor desires to assign, and Assignee desires to assume, all of Assignor's
<br /> rights, duties and obligations under the City Agreements.
<br /> NOW THEREFORE, in consideration of the foregoing recitals and other good and
<br /> valuable consideration, the receipt of which is hereby acknowledged, Assignor and Assignee
<br /> agree as follows:
<br /> 1. Assi�gnment of Rights and Obli�ations. Subject to the terms and conditions of this
<br /> Assignment, Assignor hereby assigns and transfers to the Assignee, and its successors and
<br /> assigns as of the Effective Date, all of Assignor's rights, title, interest, obligations, duties,
<br /> responsibilities, conditions and restrictions as the "Developer" or "Properly Owner" under the
<br /> City Agreements (the "Obli�ations").
<br /> 2. Assum�tion of Rights and Obli�ations. Assignee, for itself and its successors and
<br /> assigns, hereby accepts such assignment and assumes all of the Obligations under the City
<br /> Agreements which arise or accrue from and after the Effective Date of this Assignment, to the
<br /> same extent as though Assignee had been originally a signatory to the City Agreements.
<br /> Assignee agrees, expressly for the benefit of the City, to comply with, perform and execute all
<br /> the Obligations, it being the express intention of both the Assignor and the Assignee that, upon
<br /> the Effective Date of this Assignment, the Assignee shall become substituted for the Assignor as
<br /> the "Developer" under the Affordable Housing Agreement and the Landscape Maintenance
<br /> Agreement, and as the "Property Owner" under the Stormwater Maintenance Agreement. From
<br /> and after the Effective Date of this Assignment,Assignor shall be and is hereby released from all
<br /> the Obligations which arise, accrue or are required to be performed from and after the Effective
<br /> Date.
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