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ASSIGNMENT AND ASSUMPTION OF LANDSCAPE MAINTENANCE AGREEMENT <br /> THIS ASSIGNMENT AND ASSUMPTION OF LANDSCAPE MAINTENANCE <br /> AGREEMENT (the "Assignment") is made and entered into as of 36, (y ®2 9 , 2015 <br /> ("Effective Date"), by and between RC Peninsula Park, LLC, a Delaware limited liability <br /> company ("Assignor") and One Marina Owners Association, California Nonprofit Mutual <br /> Benefit Corporation ("Assignee"). <br /> RECITALS <br /> A. Assignor entered into that certain Landscape Maintenance Agreement dated <br /> February 18, 2014, and recorded February 28, 2014 as Instrument Number 2014-017375 in the <br /> Official Records of the County of San Mateo ("Official Records"), as amended by that certain <br /> First Amendment to Landscape Maintenance Agreement dated July 16, 2015 and recorded on <br /> July 16, 2015 as Instrument Number 2015-075233 in the Official Records (together, the <br /> "Landscape Maintenance Agreement"), between Assignor and the City of Redwood City, a <br /> charter city and California municipal corporation of the State of California ("City"), as attached <br /> hereto as Exhibit A. <br /> B. Assignor is the developer of the property commonly known as One Marina <br /> condominium project, located in Redwood City, California ("Project"). As a condition to <br /> receiving planning and related City approvals for the Project, Assignor was required to enter into <br /> the Landscape Maintenance Agreement with the City. <br /> C. The Project has since been constructed and as of the Effective Date, most, if not <br /> all, of the individual condominiums at the Project have been sold by Assignor's affiliate, One <br /> Marina Homes, LLC, a Delaware limited liability company. Assignee, as the homeowners <br /> association of the Project, is in the process of assuming Assignor's responsibilities concerning <br /> the Project, including compliance with any obligations pursuant to certain agreements with the <br /> City concerning the Project. The Landscape Maintenance Agreement provides for an eventual <br /> assignment of Assignor's interest in the Landscape Maintenance Agreement to the homeowners <br /> association at the Project. <br /> D. Assignor desires to assign all of its interest in the Landscape Maintenance <br /> Agreement to Assignee, and Assignee desires to assume all of Assignor's rights and <br /> responsibilities under the Landscape Maintenance Agreement. <br /> AGREEMENT <br /> NOW THEREFORE, for valuable consideration, the receipt and sufficiency of which is <br /> acknowledged, the parties agree as follows: <br /> 1 . Assignment. Assignor hereby assigns and transfers to Assignee all of Assignor's <br /> right, title, interest, responsibilities and obligations in, to and under the Landscape Maintenance <br /> Agreement. <br /> ATTY/AGR/2015.089/ASSIGNMENT & ASSUMPTION OF LMA - ONE MARINA (2014) <br /> REV: 05-05-15 VR <br /> Page 2 of 5 <br />