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� <br /> � ` ' <br /> ACKNOWLEDGMENT: <br /> The City of Redwood City hereby approves this Assignment and acknowledges that pursuant to <br /> Section 13 of the Improvement Agreement Assignor is released of its obligations under the <br /> Improvement Agreement; provided, however, that Assignor shall not be released from its obligation <br /> to maintain the security required under Section 2(A)(3) of the Improvement Agreement ("Security <br /> Obligation"), unless and until Assignee provides the City with a replacement bond in the amount of <br /> $136,800 pursuant to and in accordance with Section 2(A)(3)of the Improvement Agreement,at which <br /> time Assignor shall be released from the Security Obligation without the need for further action. The <br /> City further understands that Assignee intends to transfer the Property and assign its rights and <br /> obligations of the Improvement Agreement to a corporate affiliate ("Subsequent Assi�nment"). <br /> Provided that such Subsequent Assignment is to a corporate affiliate and it occurs within 90 days of <br /> the date of this Assignment, City hereby approves of such Subsequent Assignment. Although no <br /> further consent shall be required,Assignee shall provide notice of such Subsequent Assignment to the <br /> City. <br /> CITY OF REDWOOD CITY, a municipal corporation <br /> By: <br /> Name: . e 1 <br /> Its: 1� <br /> STATE OF CALIFORNIA ) <br /> ^ / ) SS <br /> COUNTY OF JGZI? �a T�D ) <br /> On Q � ,2014,before me, �lu��L �-`'' (l�S 4 S ,Notary <br /> Public, personally appeared `�oloe r-�- �• �e�1 , who proved to me on the basis of <br /> satisfactory evidence to be the person whose name is subscribed to the within instrument and <br /> acknowledged to me that he/�Ce executed the same in his/�authorized capacity, and that by his/l�fr <br /> signature on the instrument the person, or the entity upon behalf of which the person acted, executed <br /> the instrument. <br /> I certify under PENALTY OF PERJURY under the laws of the State of California that the <br /> foregoing paragraph is true and correct. <br /> Witness my hand and official seal. <br /> JULIE MA ROSAS <br /> �c Commission#► 1931141 <br /> Signature: �'�S � z <br /> =: Notary Public-CaHfornia D <br /> San Mateo County <br /> M Comm.�Ex irea A r 11,2015 <br /> ATTY/AGR/2014.060/333 MAIN STREET ASSIGNMENT&ASSUMPTION OF AGR FOR IMPROVEMENT <br /> REV:05-07-14 VR(MILES) <br /> Page 5 of 6 <br />