RecDoc 2019-070467 - Laserfiche WebLink

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ASSIGNMENT, ASSUMPTION AND CONSENT OF LANDSCAPE AGREEMENT THIS ASSIGNMENT, ASSUMPTION AND CONSENT OF LANDSCAPE MAINTENANCE AGREEMENT ("Agreement") is entered into as of' 2019, by and among RWC HARBOR COMMUNITIES, LLC, a Delaware limited liability c pony ("Assignor"), IMP BLU HARBOR LLC, a Delaware limited liability company ("Assignee"), and THE CITY OF REDWOOD CITY, a charter city and municipal corporation of the State of California ("City"). RECITALS A. City and Assignor entered into a Landscape Maintenance Agreement over City Property effective July 16, 2015 ("Landscape Agreement"), relating to a residential development commonly known as the `Btu Harbor Project", located at 1 Btu Harbor Boulevard, Redwood City, California CBlu Harbor Property") which is recorded on said Property (Recorder Number 2015- 075232). Under the Landscape Agreement, RWC Harbor Communities LLC (defined as "Developer" therein) agreed to maintain Improvements within the Maintenance Area as both are depicted in Exhibit B of the Landscape Agreement. Capitalized terms used but not otherwise defined herein shall have the meaning ascribed to such terms in the Landscape Agreement. B. Assignor has a legal and/or equitable interest in the Btu Harbor Property. City has been informed by Assignor that Assignor and Assignee have entered into a Purchase and Sale Agreement and Joint Escrow Instructions (as may be amended, the "PSA") as of June 28. 2019 and that, pursuant to the PSA, Assignor desires to transfer its legal and/or equitable interest in the Btu Harbor Property. C. Section 15 of the Landscape Agreement provides that Developer may assign all or any portion of its rights and obligations under the Landscape Agreement, subject to the prior written consent of the City. Under this Agreement, Assignor shall be released from all obligations under the Landscape Agreement and Assignee expressly assumes such rights and obligations. D. Assignor has provided the required written notice to City of its intent to enter into an Assignment and Assumption Agreement pursuant to Section 15 of the Landscape Agreement. E. This Agreement serves as the Assignment and Assumption Agreement with respect to the Landscape Agreement, The City's signature on this Agreement shall constitute prior written consent to the Agreement under Section 15 of the Landscape Agreement. F. Assignor desires to assign to Assignee all rights and obligations of Assignor under the Landscape Agreement and Assignee desires to assume all such rights and obligations of Assignor thereunder. Upon execution of this Agreement and transfer to Assignee of legal title to the Btu Harbor Property, Assignor shall be released from any and all such rights and obligations. this reference. REV: 08-06-19 PR AGREEMENT NOW, THEREFORE, Assignor, Assignee, and City hereby agree as follows: Incorporation. The foregoing recitals are true and correct and are incorporated herein by Page i of 5 ATTY/AGR.2019.215/GID - Landscape Agreement