Contract
Exhibit
99.1 ASSIGNMENT This assignment
("Assignment") is effective as of August 29,
2007
("Effective Date") by and between Xxxxx International, Inc., a
South Carolina corporation ("Assignor"), and DelWood LLC, a
South Carolina limited liability company
("Assignee"). Recitals. Assignor entered into a Purchase
and Sale Agreement dated June 27, 2007 with Delta Xxxxx, Inc. (as amended,
"PSA"), whereby Assignor obtained the right to purchase
approximately 98.0 acres of real property located at 000 Xxxxx Xxxxx Xxxxx,
Xxxxxxxx Xxx, Xxxxx Xxxxxxxx 00000, which property is commonly known as the
Xxxxxxx Plan property and is more particularly described in the PSA and all
buildings, structures, facilities, fixtures and other improvements to that
real
property ("Property"). Pursuant to Section
1.1(a) of the PSA, Assignor may assign the right to purchase the
Property to Assignor's designee. Assignor wishes to assign to Assignee all
of
its rights under the PSA. Now, Therefore, Assignor and Assignee
agree as follows: 1. Assignment. Assignor
hereby (a) assigns to Assignee all of Assignor's rights under the PSA, including
the right to purchase the Property and (b) delegates to Assignee all of
Assignor's duties and obligations under the PSA.
2. Assumption. Assignee hereby accepts the
foregoing assignment of rights and delegation of duties and assumes and agree
to
perform and discharge all of Assignor's duties and obligations under the PSA.
3. Reservation. Assignor reserves all rights
that Assignor has under the PSA except for those rights expressly assigned
to
Assignee under this Agreement. 4. Entire
Agreement. This Assignment contains the entire agreement of
the parties relating to the subject matter and supersedes all prior and
contemporaneous agreements, whether written or oral, and shall be binding upon
and inure to the benefit of Assignor and Assignee, and each party's successors
and assigns. This Assignment may only be modified by a written agreement, signed
by both parties, expressly modifying the Assignment. In Witness
Whereof, the parties hereby execute this Assignment effective as of the
Effective Date. XXXXX INTERNATIONAL, INC. DELWOOD LLC Xxxx X.
Xxxxxx, Vice-President Xxxx X. Xxxxxx, Secretary
