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STEADFAST 1 -2005
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STEADFAST 1 -2005
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Last modified
1/3/2012 2:11:17 PM
Creation date
7/21/2005 11:26:21 AM
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Contracts
Company Name
Steadfast
Contract #
A-2005-309
Agency
Planning & Building
Council Approval Date
10/17/2005
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<br />EXHIBIT E TO LAND EXCHANGE AGREEMENT <br /> <br />FORM OF GENERAL ASSIGNMENT <br /> <br />This General Assignment (this "Assignment") is executed this day of <br />, 2006 by ("Assignor") in favor of <br />and ("Assignee"), with reference to the following facts: <br /> <br />A. Pursuant to that certain Land Exchange Agreement and Joint Escrow <br />Instructions ("Agreement") dated of even date herewith, Assignor has agreed to convey that <br />certain real property (and all rights, easements, privileges, tenements, hereditaments, <br />appurtenances, reversions, remainders, licenses and benefits appurtenant, belonging to or running <br />with said land, collectively, the "Land") to Assignee subject to and in accordance with the terms <br />and conditions set forth therein. <br /> <br />B. Pursuant to the Agreement, Assignor has agreed to assign to Assignee all <br />of Assignor's right, title and interest in (i) all plans and specifications, warranties, guaranties, <br />licenses, permits, entitlements, governmental approvals and certificates of occupancy that <br />specifically relate to the Land and exist under applicable law as of the date hereof (including, but <br />not limited to, those relative to the environmental or physical condition of the Land), (ii) all other <br />intangible property that specifically relates to such land (collectively, the "Intangible <br />Property"), subject to any rights of consent as provided therein. <br /> <br />NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which <br />are hereby acknowledged, Assignor and Assignee agree as follows: <br /> <br />1. Assignment ofIntangible Propertv. Assignor hereby assigns, transfers and conveys to <br />Assignee all of Assignor's right, title and interest in and to all of the Intangible Property. <br /> <br />2. Acceptance and Assumption of Liabilities. Assignee hereby accepts the foregoing <br />assignment of the Intangible Property and hereby assumes all obligations with respect thereto <br />which arise from and after the Effective Date <br /> <br />3. Effective Date. The "Effective Date" of this Assignment shall be the date that Assignee <br />acquires title in and to the real property described on Exhibit A attached hereto as evidenced by <br />a deed recorded in the Official Records of Orange County, California. <br /> <br />4. Consistency with Agreement. Nothing in this Assignment shall be construed to modifY <br />or limit any provisions in the Agreement and in the event of any inconsistency between this <br />Assignment and the Agreement, the latter shall govern and control. <br /> <br />5. "As-Is". Except as otherwise expressly provided in the Agreement to the contrary, the <br />Intangible Property are transferred hereunder "as-is" without warranty or representation of any kind <br />whatsoever, either express or implied. <br /> <br />Exhibit E <br /> <br />40836735.16 <br />
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