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■ 1' � l X N ■ u <br /> lL/ • I ^ �J � <br /> ASSIGNMENT AND ASSUMPTION AGREEMENT <br /> (Amended and Restated Disposition 8 Development Agreement for the Downtown <br /> Retail-Cinema and Parking Project) <br /> THIS ASSIGNMENT AND ASSUMPTION AGREEMENT ("Assignment <br /> AgreemenY') is made and entered into this _ day of , 2004, by and <br /> between the Redevelopment Agency of the City of Redwood City, a public body, <br /> corporate and politic ("Agency'), the City of Redwood City, a charter city and municipal <br /> corporation ("City') (collectively "City/Agenc�'), BHV Innisfree Ventures I, LLC, a <br /> California limited liability company, in which Cinema Square, LLC, a California limited <br /> liability company and Blake Hunt Ventures I, LLC, a Cal'rfomia limited liability company, <br /> are the sole members ("Assigno�') and On Broadway Redwood City, LLC, a Califomia <br /> limited liability company, in which BHV Innisfree Ventures I, LLC and Buchanan Urban <br /> � <br /> Investors, LLC, are the sole members ("Assignee") and is made with reference to the <br /> following facts: <br /> RECITALS <br /> A. On January 8, 2003, the City/Agency and Assignor entered into that <br /> certain Amended and Restated Disposition and Development Agreement for a <br /> Downtown Retail-Cinema and Parking Project (the "DDA"). <br /> B. Section 903 of the DDA permits Assignor to assign its rights under the <br /> DDA to a joint venture, limited liabilit; , company, partnership or corporation without first <br /> obtaining City/Agency prior approval, if 1) such joint venture, limited liability, company, <br /> partnership or corporation agrees in writing with the City/Agency to assume all of <br /> Assignor's obligations with respect to the portion of the Project Site so assigned; 2) <br /> �, <br /> Atty/Agr/Agr.180 � <br /> 042004 <br />