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6.A. - Page 6 of 66 <br />Free Recording Requested per <br />Government Code Sec. 27383 <br />RECORDING REQUESTED BY AND <br />WHEN RECORDED MAIL TO: <br />City of Redwood City <br />1017 Middlefield Road <br />Redwood City, CA 94063 <br />Attn: City Clerk <br />APNs: 059-092-290-2 (old) (New APN not yet assessed) SPACE ABOVE THIS LINE FOR RECORDER'S USE <br />059-092-300 (Affects Parcel Three) 059-092-310 <br />(Affects Parcel One and Two) <br />ASSIGNMENT AND ASSUMPTION AGREEMENT <br />(REDWOOD CITY LOANS) <br />THIS ASSIGNMENT AND ASSUMPTION AGREEMENT ("Assignment"), made as of <br />, 2020 (the "Effective Date") by and among KDF HALLMARK, L.P., a <br />California limited partnership ("Assignor"), HALLMARK 2017 LP, a California limited <br />partnership ("Assignee") and CITY OF REDWOOD CITY, a charter city and municipal corporation. <br />in the State of California (the "City"). <br />RECITALS <br />A. Pursuant to Section 24 of the Code of Federal Regulations, Part 92 for the <br />HOME Investment Partnership Program (the "HOME Program"), the City made a loan to <br />Assignor of monies granted to it under the HOME Program in the original principal amount of <br />Five Hundred Thousand Dollars ($500,000) (the "HOME Loan") as evidenced by the Loan <br />Documents (defined below). The Redevelopment Agency of the City of Redwood City (the <br />"Agency") made a loan to the Assignor in the original principal amount of One Hundred Fifty <br />Thousand Dollars ($150,000) as evidenced by the Loan Documents (the "RDA Loan", and <br />together with the HOME Loan, the "Loans"). The Loans were made in connection with the <br />renovation of Hallmark House Apartments, described in Recital C below. <br />B. The City is the successor agency to the Agency. <br />C. Assignee is purchasing from Assignor that certain real property known as <br />Hallmark House Apartments, a 72 -unit apartment complex located at 531 Woodside Road, <br />Redwood City, California (the "Property"), as more particularly described on Exhibit A attached <br />hereto and incorporated by reference. <br />D. In connection with the conveyance of the Property by Assignor to Assignee (the <br />"Transfer"), Assignor desires and intends that all rights, title, interest, powers and privileges of <br />the Assignor in, to and under the following documents relating to the Loans be assigned and <br />transferred to the Assignee, and the Assignee desires and intends to accept the obligations of the <br />REV: 03-27-2020 PR <br />ATTY/AGR.2020.059/KDF Communities (Page 1 of 10) 160 <br />