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IFiSURAMCE ON FILE <br />uv0? K MAY PROCEED N-2092-090 <br />UNTIL INSURANCE EXPIRES <br />3-! -/3 <br />CLERK OF CO?wGIL ASSIGNMENT &c ASSUMPTION AGREEMENT <br />DATE: JUL 2 4 2O1Z <br />d?- CDA?C?? This ASSIGNMENT 8c ASSUMPTION AGREEMENT ("Assignment"), dated for <br />Gab`{ . identification purposes as of the y? day of July, 2012, is entered into by and between <br />L?'re?' the City of Santa Ana, acting as Successor Agency to the Community Redevelopment <br />Agency for the City of Santa Ana ("Assignor") and the City of Santa Ana, a California <br />municipal corporation ("Assignee"), with reference to the following: <br />RECITALS <br />A. Assignor is the current owner of that certain property comprising the <br />southwesterly one-quarter of a vacated portion of Spurgeon Street situated between Third <br />and Fourth Streets in the City of Santa Ana ("Property"). Assignor acquired title to the <br />Property by operation of law on February 1, 2012, pursuant to ABX1 26, specifically <br />Health 8? Safety Code Sections 34173 and 34175(b). <br />B. The Property is the subject of that certain Lease Agreement dated January 1, 2011 <br />("Lease"), originally entered into between the Community Redevelopment Agency for <br />the City of Santa Ana, Assignor's predecessor in interest to the Property, as "Lessor" <br />thereunder, and Fiesta Marketplace Partners, Ltd. and Fiesta Marketplace Partners <br />Number Two, Ltd., both California Limited Partnerships, collectively as "Lessee." <br />C. The Lease provides for the Assignor to rent the Property to Lessee and for Lessee <br />to use the Property as a public gathering place, on a month-to-month basis. The Lease <br />further requires Lessee to maintain the physical condition of the Property. <br />D. In accordance with ABX1 26, the Redevelopment Dissolution Act, the Oversight <br />Board for the Assignor has directed the Assignor to convey the Property to the Assignee. <br />E. Assignor and Assignee desire to enter into this Assignment to provide for <br />Assignor's assignment and delegation to Assignee of its rights, duties, obligations and <br />interests under the Lease, and Assignee's assumption thereof, concurrently with the <br />conveyance of the Property by Assignor to Assignee. <br />NOW, THEREFORE, Assignor and Assignee hereby agree as follows: <br />1. Assignment. Effective on the Recording Date (as defined below), Assignor <br />hereby assigns and delegates to Assignee all of its rights, duties, obligations and interests <br />in and to the Lease, and Assignee hereby accepts such assignment and delegation and <br />assumes performance of all terms, covenants and conditions to be performed by the <br />"Lessor" thereunder, occurring or arising under the Lease from and after the Recording <br />Date. <br />2. Release. Assignee hereby releases Assignor from any and all liability on or under <br />the Lease accruing from and after the Recording Date. <br />DO C SOC/ 1571285x2/200402-0000