Common use of Assignment and Assumption of Interest Clause in Contracts

Assignment and Assumption of Interest. Assignor hereby transfers, assigns and conveys to Assignee, all of Assignor's right, title and interest in and to, and all obligations, duties, responsibilities, conditions and restrictions under, the Development Agreement (the "Rights and Obligations"). By accepting this assignment, Assignee, for itself and its successors and assigns, hereby expressly and unconditionally accepts the foregoing assignment, assumes all such Rights and Obligations, and expressly agrees for the benefit of City, to pay, perform and discharge all obligations of Assignor under the Development Agreement, and to comply with all covenants and conditions of Assignor arising from or under the Development Agreement. Assignee hereby represents that it has reviewed and accepts all obligations of Assignor, if any, required by the City Approvals with respect to the management of parking in the Project.

Assignment and Assumption of Interest. Assignor hereby transfers, assigns and conveys to Assignee, all of Assignor's ’s right, title and interest in and to, and all obligations, duties, responsibilities, conditions and restrictions under, the Development Agreement (the "“Rights and Obligations"”). By accepting this assignment, Assignee, for itself and its successors and assigns, hereby expressly and unconditionally accepts the foregoing assignment, assumes all such Rights and Obligations, and expressly agrees for the benefit of City, to pay, perform and discharge all obligations of Assignor under the Development Agreement, and to comply with all covenants and conditions of Assignor arising from or under the Development Agreement. Assignee hereby represents that it has reviewed and accepts all obligations of Assignor, if any, required by the City Approvals with respect to the management of parking in the Project.. 2

Assignment and Assumption of Interest. Assignor hereby transfers, assigns and conveys to Assignee, all of Assignor's ’s right, title and interest in and to, and all obligations, duties, responsibilities, conditions and restrictions under, the Development Agreement (the "“Rights and Obligations"”). By accepting this assignment, Assignee, for itself and its successors and assigns, hereby expressly and unconditionally accepts the foregoing assignment, assumes all such Rights and Obligations, and expressly agrees for the benefit of City, to pay, perform and discharge all obligations of Assignor under the Development Agreement, and to comply with all covenants and conditions of Assignor arising from or under the Development Agreement. Assignee hereby represents that it has reviewed and accepts all obligations of Assignor, if any, required by the City Approvals with respect to the management of parking in the Project.