Catellus/SF Assign & Assumption 98 ASSIGNMENT AND ASSUMPTION OF AGREEMENTS
THIS ASSIGNMENT AND ASSUMPTION OF AGREEMENTS
("Agreement")' is made this 12th day of November, 1998 (the
"Effective Date"), between Catellus Residential Group, Inc., a
California Corporation ("Assignor") and Catellus Residential
Community, Inc., a California corporation ("Assignee"), with
reference to the following facts:
A. Assignor is bound by the following agreements:
(1) that certain contract with Studio E Architects, dated
October 17, 1997; (2) that certain contract with Korve
Engineering, dated April 27th, 1998; and (3) that certain
Affordable Housing Agreement for Single F~ily Residential with
the La Quinta Redevelopment Agency dated -~-~, 1998
(collectively "Agreements").
B. Assignor now desires to assign to Assignee all of
its right, title, and interest in the Agreements, subject to all
of the payments, terms, covenants, obligations, agreements and
restrictions set forth therein, and Assignee desires to accept
the Agreements and be bound by the terms thereof.
NOW THEREFORE, in consideration of the mutual
covenants and conditions hereinbelow set forth,-it is agreed:
1. Effective as of the Effective Date, Assignor
assigns to Assignee and its successors and assigns,.all of ,
Assignor's right, title and interest in and to the Agreements.
2. Effective as of the Effective Date, Assignee
accepts the assignment of the Agreements, shall be entitled to
all rights and benefits accruing to the Assignor thereunder and
hereby assumes and agrees to be bound by the terms thereof.
3. The provisions of this Agreement shall be binding
upon and inure to the benefit of Assignor and Assignee and their
respective successors and assigns.
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4. Assignor hereby covenants that it will, at any
time and from time to time, execute any documents and take such
additional actions as Assignee or its successors or assigns
shall reasonably require in order to more completely or
perfectly carry out the transfers intended to be accomplished by
this Agreement.
ASSIGNOR
CATELLUS RESIDENTIAL GROUP, INC.,
Name: PATRICK B. PATERSON
CHI~ FINANCIAL OFFICE. i{
Title:
ASSIGNEE
CATELLUS RESIDENTIAL COMMUNITY,
INC., a C '~orporation
By:
Name: PATRICK B. PATTERSON
CHIEF FINANCIAL OFFICER
Title:
THE UNDERSIGNED HEREBY CONSENTS TO THE ASSIGNMENT BY
ASSIGNOR AND ASSUMPTION BY ASSIGNEE OF THE ABOVE REFERENCED
AGREEMENTS AS OF THE DATE SET FORTH ABOVE.
CITY OF LA QUINTA REDEVELOPMENT
Name: THOMAS P. G~qOVESE
Title: Executive Director
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