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<br />, - <br /> 51G.3 <br /> ASSIGNMENT AND ASSUMPTION AGREEMENT <br />(Amended and Restated Disposition & Development Agreement for the Downtown <br /> Retail-Cinema and Parking Project) <br /> THIS ASSIGNMENT AND ASSUMPTION AGRt::EMENT ("Assignment <br />Agreement") 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/Agency"), 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 Califomia limited liability company, <br />are the sole members ("Assignor") and On Broadway Redwood City, LLC, a California <br />limited liability company, in which BHV Innisfree Ventures I, LLC and Buchanan Urban <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 liability, company, partnership or corporation without first <br />obtaining City/Agency prior approval, if 1) such joint venture, limited liability, company, <br />partnership or corporation B.grees 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 />Atty/Agr/Agr.167 1 <br />012104 <br />Cinema DDA Assignment Agr <br />