Laserfiche WebLink
120695-00000288/5471052.8 <br />1199\11\3154286.1 <br />10-26-21 SK <br />3. Parcel F. Except as set forth below, Assignor does not hereby assign, and Assignee does <br />not hereby assume, any obligations or liabilities of Assignor in the 1306 Purchase Agreement relating to <br />the property located at 1304 El Camino Real, Redwood City, CA (“Parcel F”), and Assignor retains all <br />such obligations and liabilities. Specifically, but without limiting the generality of the foregoing, Assignor <br />retains all and Assignee does not assume any obligations and liabilities relating to obtaining all approvals <br />for and constructing an affordable housing building on Parcel F, relocating commercial and residential <br />tenants, meeting the Seller’s milestones and deadlines in connection with the foregoing, obtaining the <br />Seller’s approval of financing for Parcel F, providing the Seller with the guaranty and option agreement <br />relating to Parcel F, and otherwise paying and incurring penalties relating to the failure to construct such <br />affordable housing building on Parcel F including the obligation, at Assignor's election to either pay Delay <br />Damages or to provide the Replacement Housing Units at Parcels A or D, and relocating tenants to Parcel <br />F, all as specifically set forth in the 1306 Purchase Agreement. Notwithstanding anything herein to the <br />contrary, Assignor hereby assigns and Assignee hereby assumes the obligation as set forth in the 1306 <br />Purchase Agreement to provide Seller with a letter of credit relating to Parcel F. <br />4. Successors and Assigns. This Assignment shall be binding upon and shall inure to the <br />benefit of the successors and assigns of the respective parties hereto. <br />5. General Provisions. <br />5.1 Counterparts. This Assignment may be executed in one or more counterparts, each <br />of which shall be deemed an original, but all of which shall constitute one and the same agreement after <br />each party has executed such a counterpart. <br />5.2 Governing Law. This Assignment shall be governed, construed and enforced in <br />accordance with the laws of the State of California. <br />5.3 Further Assurances. The parties covenant and agree that they will execute such <br />other and further instruments and documents as are or may become necessary or convenient to effectuate <br />and carry out this Assignment. <br />ATTY/AGR.2021.271/Greystar GP II, LLC (Consent to Assignment - 1306 Main) (Page 4 of 5)