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ASSIGNMENT AND ASSUMPTION AGREEMENT
This Agreement is made this 8th day of May, 1997, by and between U.S.
National Housing, LLC (the "LLC") and U.S. National Housing Limited Partnership
(the "Partnership").
WHEREAS, the LLC entered into an Agreement of Purchase and Sale (the
"Agreement") with Fort Xxxxx 801, Inc., Pensacola 801, Inc. and Portales 801,
Inc. for certain military housing developments in XxXxxxxxxx township, North
Carolina, Pensacola, Florida, and Portales, New Mexico.
WHEREAS, the LLC desires to assign the Agreement to the Partnership
and the Partnership desires to accept the assignment and to assume the duties,
liabilities and obligations of the LLC under the Agreement.
NOW, THEREFORE, in consideration of the sum of ten dollars ($10.00),
and other good and valuable consideration, the LLC assigns and transfers all of
its right, title and interest under the Agreement to the Partnership, and the
Partnership assumes all the LLC's duties, liabilities and obligations under the
Agreement, as if the Partnership were the original party to the Agreement.
U.S. NATIONAL HOUSING, LLC
By: /s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
Managing Member
U.S. NATIONAL HOUSING LIMITED PARTNERSHIP
U.S. National Management Corporation
By: /s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
President/General Partner
