RecDoc2023-063040 Subdivision Improvement Agreement Broadway Plaza

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Fxhihit "F" FORM OF ASSIGNMENT ASSIGNMENT AND ASSUMPTION OF SUBSIVISION IMPROVEMENT AGREEMENT THIS ASSIGNMENT AND ASSUMPTION OF THE SUBDIVISION IMPROVEMENT AGREEMENT ("Assignment") is made as of 20_, by and between a ("Assignor") and a. ("Assignee"). RECITALS A. Assignor and the City of Redwood City ("City") are parties to that certain Subdivision Improvement Agreement dated (the "Agreement"), which Agreement commits the Assignor to guarantee completion of certain improvements and ensure satisfactory performance of the conditions pertaining to the improvements on that certain real property situated at in the City of Redwood City. Capitalized terms not otherwise defined shall have the meanings set forth in the Agreement. B. Section 30 of the Agreement authorizes the Assignor to assign the Agreement in its entirety, provided that the Assignee expressly assumes all of the obligations set forth in the Agreement. C. Assignor desires to assign and transfer to Assignee, and Assignee desires to assume and accept from Assignor, all of Assignor's rights and obligations as set forth in the Agreement. AGREEMENT NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 1. Assignment. Assignor hereby assigns, sells and transfers to Assignee, free and clear of all Liens, all of Assignor's right, title and interest in and to the Agreement. 2. Assumption. Assignee hereby accepts this assignment of the Agreement and agrees to be bound by all of the terms, conditions, and covenants of the Agreement. 3. Effectiveness. This Assignment shall be effective as of the date first set forth above. From and after such date, Assignee shall be entitled to all of the rights REV: 04-12-2023 SK ATTY/AGR.2023.70/SI XX, LLC (Broadway Plaza SIA) (Page 30 of 32)