Laserfiche WebLink
its rights and obligations in the Development Agreement as those rights and obligations relate to <br />the development of the Affordable Site and Affordable Housing Project to Assignee, and Assignee <br />desires to accept and assume such rights and obligations. The purpose of this Partial Assignment <br />is to memorialize said partial assignment and assumption of the rights and obligations with respect <br />to the Affordable Housing Project under the Development Agreement, to evidence the transference <br />of control of the Affordable Site to Assignee, and to delineate the Parties' respective rights and <br />obligations for development of the Affordable Housing Project under the Development Agreement. <br />NOW THEREFORE, in consideration of the promises, covenants, and provisions set forth <br />herein, the receipt and adequacy of which consideration is hereby acknowledged, the Parties agree <br />as follows: <br />ARTICLE 1 <br />RECITALS, DEFINITIONS AND EXHIBITS <br />Section I.1 Recitals. The Parties hereby agree that each of the foregoing Recitals are <br />true and correct and are hereby incorporated herein by this reference as if fully set forth in their <br />entirety. <br />Section 1.2 Definitions. The capitalized terms below shall have the following <br />meanings: <br />(a) "1900 Broadway Property" shall mean the real property described in <br />Recital B of this Partial Assignment. <br />(b) "1900 Broadway Commercial/Retail Project" shall have the meaning set <br />forth in Recital C of this Partial Assignment. <br />(c) "Affordability Covenant" shall mean the Affordable Housing Restrictive <br />Covenant Agreement, substantially in the form attached as Exhibit G to the Land Donation <br />Agreement. <br />(d) "Affordable Housing Project" shall have the same meaning as set forth in <br />Recital D of this Partial Assignment and Recital E of the Development Agreement. In the event of <br />an inconsistency, the Development Agreement shall control. <br />(e) "Affordable Housing Project Approvals" shall have the same meaning as <br />set forth in Recital D of this Partial Assignment. <br />(f) "Affordable Site" shall mean the real property described in Recital D of <br />this Partial Assignment and Recital D of the Development Agreement. In the event of an <br />inconsistency, the Development Agreement term shall control. <br />(g) "Assignee" shall mean <br />ATTY/AGR/2024.193 —GATEKEEPER DA -1940 BROADWAY- EXHIBIT G - PARTIAL ASSIGNMENT AND ASSUMPTION <br />REV: 10-22-24 VR <br />Page 3 of 10 <br />