AgdaPkt 2006-09-11 - Laserfiche WebLink

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6.36 Page 15 City/Agency prior approval, if 1} such joint venture, limited liability, company, partnership or corporation agrees in writing with the City/Agency to assurne all of Assignor's obligations with respect to the portian of the Praject Site so assigned; 2) Assignor owns at least fifty percent (50%) interest in joint venture, iimited Iiability, company, partnership or corparation at its farmation; and 3}Assignor retains primary respansibility for developrnent of the Project Site. C. City/Agency, BHV and Assignor entered into an Assignment and Assumption Agreement, dated May 4, 2004, pursuant to which BHV assigned and Assignor assumed atl of BHV's rights ar!d obligations �n the Project Site and in the DDA to Assignor. D. City/Agency previously have approved the acquisitian of an interest in Assignee (the "LLC Interest") by RAR2-Broadway at Redwaod City - CA, Inc., a Maryland corporation ("R.AR2,�). E. Assignor desires to assign its interest in the DDA to Assignee. Further, Assignee desires to accept assignment of Assignor's interest in the DDA and City/Agency has agreed ta approve the assignment of the interest in the DDA from Assignor ta Assignee. F. Follawing the assignment of the DDA to Assignee, Assignee will assume all responsibility for the completion of the developznent of the Project Site as that term is defined in the DDA, including a.11 agreements executed or requ.ired to be executed pursuant to the DDA, as set forth herein. NOW THEREF4RE, incorporating the above recitals and in cansideration of the covenants and obiigations set forth herein,the parties hereta agree as follows: 1. Assi n�ment. Assignor hereby assigns to Assignee aIl of Assignor's rights and obligations in the Pmject Site a.nd in the DDA, including but not limited to {i) the Construction and Reimbursement Agreernent for Dawntown Underground Public Parking Facility, dated ...,,-,�.,...,��-.o�,��,,, 2