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liability company (as the "Owner "), and City (as the "Optionee "), which <br /> was recorded in the Official Records of San Mateo County, California on <br /> November, 12, 2010, as Instrument No. 2010 - 135895, relating to the real <br /> property commonly known as 70 Chemical Way, as more particularly <br /> described in such memorandum. <br /> • Memorandum of Real Estate Option Agreement dated as of October 20, <br /> 2010, by and between SCHRADER LEASK DEVELOPMENT, INC., a <br /> California corporation (as the "Owner "), and City (as the "Optionee "), <br /> which was recorded in the Official Records of San Mateo County, <br /> California on November, 12, 2010, as Instrument No. 2010 - 135894, <br /> relating to the real property commonly known as 80 Chemical Way, as <br /> more particularly described in such memorandum. <br /> 2. Acceptance and Assumption. As of the Effective Date, County hereby <br /> accepts the grant, assignment, transfer and delivery of all of City's right, title and interest <br /> as the "Optionee" under the Option Agreements and assumes and agrees to keep, <br /> observe, perform and be bound by all of the covenants and obligations that are required to <br /> be performed by the "Optionee" under the Option Agreements for the period from and <br /> after the Effective Date. <br /> 3. Unrecorded Assignment and Assignment Agreements. City and County <br /> acknowledge and agree that they are executing and delivering one or more unrecorded <br /> Assignment and Assumption Agreements, dated on or about the date of this Assignment, <br /> relating to the City's assignment Option Agreements to the County (the "Unrecorded <br /> Assignment Agreements "). In the event of any conflict between the Unrecorded <br /> Assignment Agreements and this Assignment, the terms and conditions of the <br /> Unrecorded Assignment Agreements shall control. <br /> 4. Effect. City and County have executed and recorded this Assignment for <br /> the purpose of imparting notice of the assignment of the Option Agreements to County <br /> and the assumption by County of the rights and obligations of City thereunder. <br /> /// <br /> /// <br /> /// <br /> /// <br /> ATTY /AGR/2010.144 2 <br /> 122210 <br />