9-13-2016 Assignment and Asumption of IA Reference 2013-166678

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0$ . Z . 1 (( DUPLICATE THIS Item WAS RETugA) Ep To ORIGINAL RECORDING REQUESTED BY AND NotTh AMC/L4:CAS T Co . WHEN RECORDED MAIL TO: 5 C.otYi nnr w Dc, ,a,oM E,,, r Evelyn Bowens-Chambers (,�CTo SEA I �' "�' North American Title Company REC O,1 D A rr0N • 6612 Owens Drive A RE QtA ESI FLA a2CD Suite 100 Pleasanton CA 94588 g€CoRD� DotuM E�JT & S6vT Ta g C LER.VS oFF'�C F L4* 44A06. AT 1 pie o� Daw E)2 i ,y&rSSA 71114,61,4"-) Accts raor Crra Ora SPACE ABOVE THIS LINE IS FOR. RECORDER'S USE ASSIGNMENT AND ASSUMPTION OF IMPROVEMENT AGREEMENT (Main + Marshall, 601 Main Street) THIS ASSIGNMENT AND ASSUMPTION OF THE IMPROVEMENT AGREEMENT ("Assignment") is made as of September 13, 2016, by and between LMI REDWOOD CITY HOLDINGS, LLC, a Delaware limited liability company ("Assignor") and THE MARSTON BY WINDSOR 1 LLC, a Delaware limited liability company, as to an undivided 42% interest; THE MARSTON BY WINDSOR 2 LLC, a Delaware limited liability company, as to an undivided 34% interest; THE MARSTON BY WINDSOR 3 LLC, a Delaware limited liability company, as to an undivided 23% interest; and THE MARSTON BY WINDSOR 4 LLC, a Delaware limited liability company, as to an undivided 1% interest (collectively, "Assignee"), and is consented to by the City of Redwood City, a charter city and municipal corporation ("City"). RECITALS A. Assignor and the City are parties to that certain Improvement Agreement dated December 3, 2013, recorded December 10, 2013 as Instrument No. 2013-166678, Official Records of San Mateo County, California (the "Agreement"), which Agreement commits the Assignor to construct and install certain public improvements including street and street light improvements, storm drain systems, domestic water systems and sanitary sewer systems for that certain real property situated at 601 Main Street in the City of Redwood City, consisting of a residential community. Capitalized terms not otherwise defined shall have the meanings set forth in the Agreement. B. Section 30 of the Agreement authorizes the Assignor to assign its obligations under the Agreement with the prior written approval of the City. C. Assignor desires to assign and transfer to Assignee, and Assignee desires to assume and accept from Assignor, all of Assignor's rights and obligations as set forth in the Agreement. AGREEMENTS NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: • 1 . Assignment. Assignor hereby assigns, sells and transfers to Assignee all of Assignor's right, title and interest in and to the Agreement. 6125273