SOUTHLAND ECONOMIC DEVELOPMENT CORPORATION - 2009

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,r 1 NTH' ~{-' ~~ ~~ ACKNOWLEDGMENT OF ASSIGNMENT OF JUDGMENT N-2009-033 This ACKNOWLEDGMENT OF ASSI `GNMENT OF JUDGMENT ("Assignment") is entered into this ~ day of ~ DRt \ , 200, between Southland Economic ~ ~ Development Corporation, a corporation duly organized and existing under the State of California (the "assignor/judgment creditor"), and the City of Santa Ana, a charter city ~~ and municipal corporation organized and existing under the Constitution and laws of the ~ ~ N State of California (the "assignee"). _•V1~ V 4. RECITALS A. On April 19, 1999, the assignor/judgment creditor and assignee entered into an Agreement (hereinafter the "1999 Agreement"), which is attached to this Assignment as Exhibit "1" and incorporated herein by reference, for the use of federal Empowerment Zone Funds ("EZ funds"), where the assignee agreed to provide EZ funds to the assignor/judgment creditor and the assignor agreed to use those funds to establish and operate a Revolving Loan Fund for business loans. B. On or about August 6, 2003, the assignor/judgment creditor entered into a Promissory Note and Loan Agreement with Tracy Snyder, individually and doing business as Chip-N-Dough, Inc. (hereinafter the "judgment debtor"), under which the assignor/judgment creditor tendered EZ funds in the amount of $99,357.97 to the judgment debtor. C. On or about March 6, 2006, the assignor/judgment creditor filed a complaint against the judgment debtor alleging the judgment debtor failed to make the required payments under the Promissory Note and Loan Agreement. D. By a Judgment ordered on December 15, 2006, in the proceeding of Southland Economic Development Corporation vs. Tracy C. Snyder Chip-N-Dou et al., Court File No. 06CC03786, in the Orange County Superior Court, Central District, in which the assignor/judgment creditor was the plaintiff alleging a cause of action for Breach of Contract, it was adjudged that the assignor/judgment creditor recover against the judgment debtor the sum of $141,900.64 (hereinafter the "Judgment"). E. On March 2, 2007, the assignor/judgment creditor recorded with the Orange County Recorder's Office an abstract of judgment for the amount of $141,900.64 against judgment debtor Tracy Snyder, individually and dba Chip-N-Dough, with a last known address of 255 Camelia Lane, Costa Mesa, California 92627. (Exhibit " 2.") F. The last known address for the Agent for Service of Process for the judgment debtor Chip-N-Dough, Inc. is: 1943 East Pomona, Santa Ana, California, 92705. G. No amount due under the Judgment has been paid by the judgment debtor. Acknowledgment of Assignment of Judgment 1