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following documents relating to the Loans in accordance with the terms and conditions thereunder, <br />and to obtain the benefits to the Assignor thereunder: <br />i. that certain Redevelopment Agency of the City of Redwood City Owner Participation <br />Agreement (Hallmark Apartments Project) by and among the Assignor, the City, and the <br />Agency dated December 1, 2003, and recorded in the Official Records of San Mateo <br />County, California (the "Official Records") as Document Number 2003-350637 on <br />December 22, 2003 (the "Owner Participation Agreement"); <br />ii. that certain Promissory Note by Assignor dated December 22, 2003, in the orignal principal <br />amount of Six Hundred Fifty Thouand Dollars ($650,000) payable to the City and the <br />Agency (the "Note"); <br />iii. the cetain Declaration of Affordabililty Covenants dated December 22, 2003 by Assignor, <br />and recorded in the Official Records as Document Number 2003-350638 on December 22, <br />2003 (the "Affordability Declaration"); <br />iv. that certain Declaration of Redevelopment Covenants dated December 22, 2003 by <br />Assignor, and recorded in the in the Official Records as Document Number 2003-350639 <br />on December 22, 2003 (the "Redevelopment Declaration"); <br />V. that certain Deed of Trust with Assignment of Rents dated December 22, 2003 by Assignor <br />to Old Republic Title Company, a California corporation, as Trustee, for the benefit of the <br />City and the Agency, and recorded in the in the Official Records as Document Number <br />2003-350640 on December 22, 2003 (the "Deed of Trust", and together with the Owner <br />Particiaption Agreement, the Note, the Affordability Declaration, and the Redvelopment <br />Declaration, the "Loan Documents"). <br />NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency <br />of which are hereby acknowledged, Assignor, Assignee, and City agree as follows: <br />1. Assignment of Loan Documents. Assignor hereby assigns and delivers to <br />Assignee the Loan Documents and all of the rights, interests, benefits and privileges of the <br />Assignor thereunder, and Assignee hereby accepts such assignment. <br />2. Assumption of Obligations. By acceptance of this Assignment, Assignee <br />hereby assumes and agrees to perform and to be bound by all of the terms, covenants, conditions <br />and obligations of Assignor under the Loan Documents for the benefit of the City. Pursuant to <br />Section 9 of the Owner Participation Agreement, Assignee understands and acknowledges the <br />existence of the Affordability Declaration and Redevelopment Declaration and agrees to be bound <br />thereby. <br />3. Consent; Release. The City consents to (i) the Transfer and (ii) the assignment <br />and assumption of the Loan Documents as described herein. The City hereby releases, acquits and <br />discharges Assignor from any and all obligations, claims, causes of action, damages, liabilities and <br />REV: 03-27-2020 PR <br />