ASSIGNMENT OF CONTRACT RIGHTS AND OBLIGATIONS
---------------------------------------------
Assignment dated June 30, 2004 between Xxxxx Xxxxxxx ("Assignor") and Axiom
III, Inc., a Nevada Corporation ("Assignee").
WHEREAS, Assignor is a party to that certain agreement dated August 27,
2003, captioned "Xxxxxxx Property Management Services, Inc. Residential Property
Management Agreement," a copy of which is attached hereto as Exhibit A;
WHEREAS, Assignor has reorganized the ownership of one of the properties
under management by Xxxxxxx Property Management Services, Inc. ("Xxxxxxx") so
that such property is now owned by Assignee, and now desires to transfer the
rights and obligations under Xxxxxxx'x agreement (Exhibit A) to the Assignee as
well; and
WHEREAS, Assignee would like to receive an assignment of both the rights
and obligations of Xxxxxxx'x Agreement (Exhibit A);
NOW THEREFORE, in consideration of the mutual promises and agreements set
forth herein, and other valuable consideration, the receipt and sufficiency of
which both parties hereby acknowledge, the parties agree as follows:
1. Assignor hereby assigns its rights and obligations under Xxxxxxx'x
Agreement (as set forth in Exhibit A) to the following limited extent: the
assignment of rights and obligations shall apply only to the apartment house
located at 00 Xxxxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxxxxxxx. Assignor shall retain
all other rights and obligations not specifically pertaining to the apartment
house at 00 Xxxxxxx Xxxxxx.
2. Assignee hereby agrees to receive and honor the foregoing assigned
rights and obligations.
3. Said assignment is expressly conditioned on Xxxxxxx'x written
approval and consent of same.
4. Once Xxxxxxx approves and consents to this assignment, Assignor
shall be released from and held harmless from all liability or obligations
assigned by this Assignment, and shall have no further legal responsibility for
them. Likewise, upon Xxxxxxx'x approval and consent, Assignor releases and
holds harmless Assignee and Xxxxxxx from all liability or obligations to
Assignee, and waives all further claims arising from or related to the rights
assigned herein.
IN WITNESS WHEREOF, the parties have signed this agreement below.
AXIOM III, INC. (Assignee) Assignor
_______________________________ __________________________________
By: Xxxxx Xxxxxxx, President Xxxxx Xxxxxxx, in his individual
capacity
On behalf of Xxxxxxx Property Management Services, Inc., I am authorized to
approve and consent to the foregoing assignment, effective as of the date first
appearing above.
XXXXXXX PROPERTY MANAGEMENT SERVICES, INC.
__________________________________
By: Xxxx X. Xxxxxxx, President
