ASSIGNMENT AND ASSUMPTION OF LEASE
Exhibit 10.17
For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, US REAL ESTATE LIMITED PARTNERSHIP, a Texas limited partnership (the “Assignor”), hereby assigns and delegates to ARC HDCOLSC001, LLC, a Delaware limited liability company, (the “Assignee”), and Assignee
hereby agrees to assume and accept the assignment and delegation of all of Assignor’s right, title and interest in and to any obligations under that certain Triple Net Lease Agreement dated effective May 15, 2009 by and between Assignor and Home Depot U.S.A., Inc., a Delaware corporation (the “Lease”).
Assignor hereby agrees to indemnify Assignee against and hold Assignee harmless from any and all cost, liability, loss, damage or expense, including, without limitation, reasonable attorneys’ fees, originating or relating to the period prior to the date hereof and arising out of the Assignor’s obligations under the Lease. Assignee hereby agrees to indemnify Assignor against and hold Assignor harmless from any and all cost, liability, loss, damage or expense, including, without limitation, reasonable attorneys’ fees, originating or relating to the period on or after the date hereof and arising out of the Assignee’s obligations under such leases.
If any litigation between Assignor and Assignee arises out of the obligations of the parties under this Assignment or concerning the meaning or interpretation of any provision contained herein, the losing party shall pay the prevailing party’s costs and expenses of such litigation, including, without limitation, reasonable attorneys’ fees.
This Agreement may be executed and delivered in any number of counterparts, each of which so executed and delivered shall be deemed to be an original and all of which shall constitute one and the same instrument.
[Signature and Notary Page to follow]
IN WITNESS WHEREOF, Assignor and Assignee have executed this Assignment effective as of the 6 day of November, 2009.
ASSIGNOR:
US REAL ESTATE LIMITED PARTNERSHIP,
a Texas limited partnership
a Texas limited partnership
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By:
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USAA REAL ESTATE COMPANY,
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a Delaware corporation, its general partner
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By:
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/s/ Xxxx X. Post
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Name:
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Xxxx X. Post
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Title:
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Assistant Vice President
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THE STATE OF TEXAS
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§
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COUNTY OF BEXAR
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BEFORE ME the undersigned authority, on this day personally appeared Xxxx X. Post, the Assistant Vice President of USAA Real Estate Company, a Delaware corporation, the general partner of US REAL ESTATE LIMITED PARTNERSHIP, a Texas limited partnership, on behalf of said limited partnership.
GIVEN under my hand and seal of office on this 5th day of November, 2009.
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/s/ Xxxxx Xxxxxxx
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NOTARY PUBLIC
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Xxxxx Xxxxxxx
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Typed or Printed Name of Notary
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MY COMMISSION EXPIRES: 6/3/2010
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ASSIGNEE:
ARC HDCOLSC001, LLC,
a Delaware limited liability company
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By:
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/s/ Xxxxxxx X. Xxxxxx
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Name:
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Xxxxxxx X. Xxxxxx
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Title:
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President
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THE STATE OF NEW YORK §
COUNTY OF NEW YORK §
BEFORE ME the undersigned authority on this day personally appeared Xxxxxxx X. Xxxxxx, the President of ARC HDCOLSC001, LLC, a Delaware limited liability company, on behalf of said limited liability company.
GIVEN under my hand and seal of office on this 9 day of November, 2009.
| /s/ Xxx XxXxxxxx | |
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NOTARY PUBLIC
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| Xxx XxXxxxxx | |
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Typed or Printed Name of Notary
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MY COMMISION EXPIRES:________________________
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Xxx XxXxxxxx
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Notary Public, State of New York
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No. 01LAB164026
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Qualified in New York County
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Term Expires April 9, 2011
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