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EXHIBIT 10.20
ASSIGNMENT OF
OFFICE LEASE
THIS ASSIGNMENT OF OFFICE LEASE (this "Assignment") is made as of this 4th
day of April, 2000 (the "Effective Date"), by and between MARCUS & PARTNERS,
L.P., a Delaware limited partnership ("Assignor"), and eVENTURES GROUP, INC.
("Assignee"). Capitalized terms not defined herein shall have the meanings
ascribed to them in the Lease (as defined below).
WITNESSETH:
WHEREAS, Crescent Real Estate Funding I, L.P., a Delaware limited
partnership ("Landlord"), is the owner of that certain office building located
at 000 Xxxxxxxx Xxxxx, Xxxxxx, Xxxxx 00000, which is commonly known as the
"Crescent" (the "Building");
WHEREAS, Landlord and Assignor are parties to that certain Office Lease
dated May 20, 1999, as amended by that certain First Amendment to Office Lease
dated March 28th, 2000 (collectively, the "Lease"), whereby Assignor leases from
Landlord approximately 9,377 rentable square feet on the 8th floor of the
Building; and
WHEREAS, Assignor and Assignee desire to enter into this Assignment in
order to assign the Assignor's rights and interests in the Lease to Assignee and
to evidence Assignee's assumption of Assignor's obligations and liabilities
under the Lease.
ASSIGNMENT:
NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Assignor and Assignee agree as follows:
1. Assignment of Lease. Assignor hereby assigns and transfers to Assignee all
of Assignor's right, title, claim and interest in and to the Lease.
2. Assumption. Assignee hereby acknowledges and agrees to all of the terms of
the Lease and accepts the foregoing assignment, and Assignee assumes and
agrees to satisfy and perform, from and after the Effective Date, all the
duties and obligations of the Tenant under the Lease, in accordance with
the terms thereof.
3. Indemnification. Assignee hereby agrees to indemnify and hold Assignor
harmless from (i) any and all duties or obligations of the Tenant under the
Lease arising or occurring after the Effective Date and (ii) any costs,
damages, liabilities or expenses of any nature whatsoever which arise or
occur subsequent to the Effective Date and result from Assignee's failure
or inability to satisfy and/or perform the duties or obligations of the
Tenant under the Lease from and after the Effective Date.
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Assignor hereby agrees to indemnify and hold Assignee harmless from (i) any
and all duties or obligations of the Tenant under the Lease arising or
occurring prior to the Effective Date and (ii) any costs, damages,
liabilities or expenses of any nature whatsoever which arise or occur prior
to the Effective Date and result from Assignor's failure or inability to
satisfy and/or perform the duties or obligations of the Tenant under the
Lease prior to the Effective Date.
4. Governing Law. This Assignment shall be governed by and construed in
accordance with the laws of the State of Texas.
IN WITNESS WHEREOF, Assignor and Assignee have executed this Assignment as
of the Effective Date.
ASSIGNOR: MARCUS & PARTNERS, L.P.,
a Delaware limited partnership
By: J&N Ventures, Inc.,
its general partner
By: /s/ XXXXXXX X. XXXXXX
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Xxxxxxx X. Xxxxxx
President, Chief Executive
Officer, Secretary and Treasurer
ASSIGNEE: eVENTURES GROUP, INC.
By: /s/ XXXXXX XXXXXXXXX
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Name: Xxxxxx Xxxxxxxxx
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Title: Vice President
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